A Lease With Option To Buy is commonly used in England and Wales when parties wish to combine the immediate occupation of a property with a future purchase opportunity. This arrangement benefits tenants who may need time to arrange financing or assess the property's suitability for long-term ownership, while providing landlords with rental income and a potential guaranteed sale. The agreement includes standard lease provisions (rent, maintenance, term) alongside detailed option terms (purchase price, exercise period, conditions). It's particularly relevant in today's property market where buyers may need flexibility in their path to property ownership.
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1. Parties: Details of the landlord and tenant, including full legal names and addresses
2. Background: Context of the agreement and brief property description
3. Definitions: Key terms used throughout the agreement
4. Demise: Formal grant of the lease and property description
5. Term: Duration of lease and commencement date
6. Rent: Rent amount, payment terms, and review provisions
7. Option to Purchase: Terms of the purchase option, including price and exercise period
8. Tenant Covenants: Tenant's obligations under the lease
9. Landlord Covenants: Landlord's obligations under the lease
1. Break Clause: Early termination provisions - use when parties want flexibility to end lease early
2. Service Charge: Additional charges for services/maintenance - use for properties with common areas or shared services
3. Insurance: Insurance obligations and requirements - use when specific insurance arrangements are needed
1. Schedule 1 - Property Plan: Detailed plan showing the leased property
2. Schedule 2 - Inventory: List of fixtures, fittings, and contents included
3. Schedule 3 - Property Condition Report: Detailed condition of property at lease start
4. Schedule 4 - Service Charge Items: Breakdown of service charge components if applicable
5. Schedule 5 - Option Terms: Detailed terms and conditions of the purchase option
Relevant legal definitions
Agreement
Completion
Completion Date
Deposit
Exercise Notice
Exercise Period
Landlord
Lease
Option
Option Notice
Option Period
Option Price
Permitted Use
Planning Permission
Premium
Property
Purchase Price
Rent
Rent Payment Date
Service Charge
Term
Tenant
Title
VAT
Working Day
Common Parts
Building
Utilities
Commencement Date
Expiry Date
Insurance Rent
Lease Covenants
Outgoings
Particulars
Superior Landlord
Superior Lease
Surveyor
Title Matters
Vacant Possession
Completion
Completion Date
Deposit
Exercise Notice
Exercise Period
Landlord
Lease
Option
Option Notice
Option Period
Option Price
Permitted Use
Planning Permission
Premium
Property
Purchase Price
Rent
Rent Payment Date
Service Charge
Term
Tenant
Title
VAT
Working Day
Common Parts
Building
Utilities
Commencement Date
Expiry Date
Insurance Rent
Lease Covenants
Outgoings
Particulars
Superior Landlord
Superior Lease
Surveyor
Title Matters
Vacant Possession
Clauses
Demise
Term and Commencement
Rent and Payment
Option to Purchase
Service Charges
Insurance
Repairs and Maintenance
Alterations and Improvements
Assignment and Subletting
Use and Occupation
Utilities and Outgoings
Quiet Enjoyment
Landlord's Covenants
Tenant's Covenants
Break Rights
Forfeiture
Notices
VAT
Registration
Planning and Compliance
Environmental Matters
Access and Inspection
Security and Deposit
Default
Indemnity
Severance
Entire Agreement
Third Party Rights
Governing Law
Jurisdiction
Force Majeure
Termination
Option Exercise
Property Title
Completion Obligations
Term and Commencement
Rent and Payment
Option to Purchase
Service Charges
Insurance
Repairs and Maintenance
Alterations and Improvements
Assignment and Subletting
Use and Occupation
Utilities and Outgoings
Quiet Enjoyment
Landlord's Covenants
Tenant's Covenants
Break Rights
Forfeiture
Notices
VAT
Registration
Planning and Compliance
Environmental Matters
Access and Inspection
Security and Deposit
Default
Indemnity
Severance
Entire Agreement
Third Party Rights
Governing Law
Jurisdiction
Force Majeure
Termination
Option Exercise
Property Title
Completion Obligations
Relevant Industries
Relevant Teams
Relevant Roles
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