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Lease To Purchase Agreement
"I need a Lease to Purchase Agreement for a commercial warehouse property in Auckland, with a 2-year lease term starting March 2025, including an option to purchase at a pre-agreed price of NZD 2.5M, where 25% of the monthly rent payments will count towards the purchase price."
1. Parties: Identification of the lessor/vendor and lessee/purchaser with full legal names and addresses
2. Background: Context of the agreement, including property details and purpose of the arrangement
3. Definitions: Key terms used throughout the agreement, including specific financial and property-related terminology
4. Property Details: Complete legal description of the property, including title references and physical address
5. Lease Terms: Duration of lease, rent amount, payment terms, and maintenance responsibilities
6. Purchase Option Terms: Conditions of the purchase option, including purchase price and how/when the option can be exercised
7. Financial Terms: Rent credits towards purchase, deposit requirements, and purchase price calculations
8. Property Maintenance and Insurance: Responsibilities for maintenance, repairs, and insurance during the lease period
9. Default and Remedies: Consequences of default under either lease or purchase provisions
10. Assignment and Subletting: Restrictions on transferring rights under the agreement
11. General Terms: Standard contractual provisions including notices, amendments, and governing law
1. Vendor Finance: Include when the vendor is providing financing for the purchase
2. Property Management: Include when a property manager will be involved during the lease period
3. GST Provisions: Include when either party is GST-registered or the property is commercial
4. Body Corporate: Include for properties subject to body corporate rules
5. Chattels: Include when specific chattels are included in the lease and subsequent sale
6. Development Rights: Include when the lessee has rights to develop the property during the lease period
7. Early Purchase Options: Include when there are provisions for early exercise of the purchase option
1. Schedule 1 - Property Description: Detailed legal and physical description of the property, including boundaries and easements
2. Schedule 2 - Rental Payment Schedule: Detailed breakdown of rental payments and due dates
3. Schedule 3 - Purchase Price Calculation: Formula for calculating final purchase price, including rent credits
4. Schedule 4 - Chattels List: Inventory of all chattels included in the lease and sale
5. Schedule 5 - Property Condition Report: Detailed report on property condition at lease commencement
6. Appendix A - Property Plans: Floor plans, site plans, and any relevant property drawings
7. Appendix B - Title Documents: Copy of certificate of title and relevant registered documents
8. Appendix C - Body Corporate Rules: If applicable, current body corporate rules and regulations
Authors
Business Day
Commencement Date
Deposit
Exercise Date
Exercise Notice
Exercise Period
GST
Land
Lease Period
Lease Term
Lessee
Lessor
Option Fee
Option to Purchase
Outgoings
Possession Date
Premises
Property
Purchase Price
Purchaser
Rent
Rent Credit
Settlement Date
Title
Vendor
Working Day
Chattels
Default Event
Due Date
Improvements
Land Transfer Office
Notice
Permitted Use
Related Documents
Security Deposit
Settlement
Transfer
Utilities
Lease Terms
Rent and Payment
Security Deposit
Option to Purchase
Purchase Price
Property Inspection
Maintenance and Repairs
Insurance
Property Access
Utilities and Outgoings
Assignment and Subletting
Default and Remedies
Termination
Property Use
Alterations and Improvements
Title and Ownership
Settlement
Risk and Possession
GST
Notices
Dispute Resolution
Governing Law
Force Majeure
Entire Agreement
Severability
Costs
Confidentiality
Representations and Warranties
Compliance with Laws
Registration of Interest
Body Corporate
Real Estate
Property Development
Property Investment
Residential Property
Commercial Property
Agricultural Property
Retail Property
Industrial Property
Property Management
Legal
Real Estate
Property Management
Operations
Finance
Investment
Asset Management
Commercial
Acquisitions
Risk Management
Property Manager
Real Estate Agent
Property Lawyer
Contract Manager
Legal Counsel
Property Development Manager
Investment Manager
Asset Manager
Commercial Director
Operations Manager
Leasing Manager
Finance Manager
Portfolio Manager
Property Acquisitions Manager
Real Estate Investment Analyst
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