Lease Agreement With Option To Purchase (Real Estate) Template for Saudi Arabia

1. Foreign Ownership Compliance: Required when lessee/potential buyer is a foreign entity, detailing compliance with Saudi foreign ownership laws

2. Shariah Compliance Declaration: Specific section confirming the agreement's compliance with Islamic principles, often required by certain institutions

3. Property Management: Optional section for larger properties requiring specific management arrangements

4. Improvements and Alterations: Detailed section needed when significant property modifications are contemplated

5. Assignment and Subletting: Required when transfer rights are being granted to the lessee

6. Force Majeure: Optional but recommended section addressing unforeseen circumstances

7. Environmental Compliance: Required for industrial or commercial properties with potential environmental impacts

1. Property Description Schedule: Detailed description of the property including boundaries, size, and included fixtures

2. Rent Payment Schedule: Breakdown of rent payments, including amounts and due dates

3. Purchase Price Calculation: Formula or method for determining final purchase price, including any rent credit

4. Property Condition Report: Detailed assessment of property condition at lease commencement

5. Permitted Use Schedule: Specific details of allowed property uses and restrictions

6. Maintenance Responsibilities Schedule: Detailed breakdown of maintenance obligations for each party

7. Required Insurance Schedule: Specific insurance requirements and coverage levels

8. Property Title Documents: Copies of relevant title documents and property registration

9. Property Plans and Drawings: Technical drawings and plans of the property