Option To Lease Agreement Template for Saudi Arabia

1. Shariah Compliance: Specific provisions ensuring compliance with Islamic law principles, required when either party requires explicit Shariah compliance confirmation

2. Due Diligence: Specific provisions regarding the Option Holder's right to conduct due diligence, included when complex property assessment is needed

3. Property Development: Provisions regarding any permitted development or modifications during the option period, included when property improvements are contemplated

4. Assignment: Terms governing the ability to transfer the option rights, included when assignment rights are negotiated

5. Broker Provisions: Terms relating to real estate brokers' involvement and commissions, included when brokers are involved

6. Multiple Properties: Additional provisions for handling multiple properties under one option agreement, included when the option covers multiple properties

7. Foreign Investment Provisions: Additional terms required for foreign investors, included when either party is a foreign entity

1. Property Description: Detailed description of the property including location, boundaries, and official registration details

2. Form of Lease: Draft of the proposed lease agreement to be executed upon exercise of the option

3. Payment Schedule: Detailed breakdown of option fee payments and proposed lease payments

4. Property Plans: Official plans, maps, or drawings of the property

5. Condition Report: Current condition of the property and any existing damages or issues

6. Required Permits: List of permits and approvals required for intended use

7. Exercise Notice Template: Template form for exercising the option

8. Due Diligence Requirements: Checklist and requirements for property inspection and verification