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Lease Purchase Agreement Commercial Property

Lease Purchase Agreement Commercial Property Template for United Arab Emirates

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Key Requirements PROMPT example:

Lease Purchase Agreement Commercial Property

"I need a Lease Purchase Agreement Commercial Property to be drafted for a retail space in Dubai Mall, with a 5-year lease term starting March 1, 2025, and an option to purchase the property at year 3, including specific provisions for retail hours and mall regulations."

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Document background
The Lease Purchase Agreement Commercial Property is a sophisticated legal instrument used in the United Arab Emirates when a party wishes to lease a commercial property with the option to purchase it in the future. This arrangement is particularly valuable in the UAE market where it allows businesses to secure prime commercial locations while building equity and testing the property's suitability for their operations before committing to a purchase. The document must comply with UAE federal laws including the Civil Code (Federal Law No. 5 of 1985) and Commercial Transactions Law (Federal Law No. 18 of 1993), as well as emirate-specific property regulations and RERA requirements. It typically includes detailed provisions for both the leasing phase (including rent, maintenance, and usage rights) and the purchase option (including price mechanism, exercise period, and completion requirements). This type of agreement is commonly used in commercial real estate transactions involving office spaces, retail outlets, warehouses, and industrial facilities throughout the UAE.
Suggested Sections

1. Parties: Identification of the lessor/seller and lessee/purchaser, including full legal names, registration details, and addresses

2. Background: Context of the agreement, description of the property, and parties' intentions regarding the lease purchase arrangement

3. Definitions: Key terms used throughout the agreement including Property, Purchase Price, Lease Period, Option Period, etc.

4. Property Details: Comprehensive description of the commercial property, including address, size, permitted use, and any included fixtures/fittings

5. Lease Terms: Terms of the lease including duration, rent amount, payment schedule, and maintenance responsibilities

6. Purchase Option: Details of the purchase option including option price, exercise period, and mechanism for exercising the option

7. Payment Terms: Structure of payments, including rent, option fee, purchase price, and how lease payments may be credited toward purchase

8. Property Usage: Permitted commercial uses, restrictions, and compliance requirements

9. Maintenance and Repairs: Responsibilities for property maintenance, repairs, and improvements during the lease period

10. Insurance and Liability: Required insurance coverage and allocation of risks between parties

11. Default and Remedies: Events of default and corresponding remedies for both lease and purchase aspects

12. Assignment and Subletting: Rights and restrictions regarding assignment of the agreement or subletting the property

13. Governing Law and Jurisdiction: Specification of UAE law application and jurisdiction for dispute resolution

14. Notices: Process and requirements for formal communications between parties

15. Execution: Signature blocks and execution requirements

Optional Sections

1. Broker Provisions: Include when real estate brokers are involved in the transaction, detailing their roles and commissions

2. Shariah Compliance: Include for parties requiring Islamic finance compliance, detailing structure to ensure Shariah compliance

3. Condition Precedents: Include when completion is subject to specific conditions such as regulatory approvals or financing

4. Fit-out Provisions: Include when the property requires significant tenant improvements or modifications

5. Service Charges: Include for properties in managed developments with common areas and shared services

6. Environmental Compliance: Include for properties with specific environmental requirements or concerns

7. Exit Options: Include when parties want specific early termination rights beyond standard defaults

Suggested Schedules

1. Property Description Schedule: Detailed technical description of the property including floor plans and specifications

2. Payment Schedule: Detailed breakdown of all payments including rent, purchase option fees, and purchase price calculations

3. Permitted Use Schedule: Detailed description of allowed commercial activities and any restrictions

4. Handover Condition Schedule: Inventory and condition report of the property at lease commencement

5. Maintenance Schedule: Detailed breakdown of maintenance responsibilities between parties

6. Required Insurance Schedule: Specific insurance requirements including types and minimum coverage amounts

7. Form of Option Notice: Template for exercising the purchase option

8. Due Diligence Documents: List of required property and corporate documents for completion

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions

















































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Relevant Industries

Real Estate

Commercial Property Development

Retail

Hospitality

Office Space

Industrial

Warehousing

Healthcare

Education

Financial Services

Professional Services

Manufacturing

Logistics

Relevant Teams

Legal

Real Estate

Finance

Operations

Facilities Management

Risk & Compliance

Corporate Development

Business Development

Asset Management

Property Management

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Real Estate Director

Property Manager

Facilities Manager

Commercial Director

Legal Counsel

Corporate Lawyer

Real Estate Investment Manager

Asset Manager

Operations Director

Business Development Manager

Finance Manager

Compliance Officer

Risk Manager

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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