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Lease Agreement Sale Of Property
"I need a Lease Agreement Sale of Property for a commercial warehouse in Toronto, where the tenant will lease for 18 months starting March 2025 with significant tenant improvements allowed, followed by a guaranteed purchase at CAD 2.8 million."
1. Parties: Identification of the Landlord/Seller and Tenant/Buyer, including full legal names and addresses
2. Background: Context of the agreement, including property details and the intention to lease with future sale
3. Definitions: Key terms used throughout the agreement, including Property, Lease Period, Purchase Price, and Closing Date
4. Lease Terms: Duration of lease, rent amount, payment terms, and other lease-specific conditions
5. Property Description: Detailed description of the property including legal description, fixtures, and inclusions/exclusions
6. Purchase Terms: Purchase price, deposit requirements, and payment structure for the eventual sale
7. Conditions of Sale: Conditions that must be met before the sale can proceed, including financing and inspection requirements
8. Lease-to-Purchase Provisions: Terms governing the transition from lease to purchase, including rent credit towards purchase if applicable
9. Maintenance and Repairs: Responsibilities for property maintenance during the lease period
10. Insurance and Risk: Insurance requirements and allocation of risk during both lease and purchase phases
11. Default and Remedies: Consequences of default under either lease or purchase provisions
12. Notices: How and where formal notices under the agreement must be delivered
13. Governing Law: Specification of Canadian law and relevant provincial jurisdiction
14. Execution: Signature blocks and execution requirements
1. Option to Purchase: Used when the sale is structured as an option rather than a firm commitment
2. Rent Credit Structure: Include when a portion of rent payments will be credited toward the purchase price
3. Property Management: Include for properties requiring specific management arrangements during the lease period
4. Environmental Matters: Include for properties with known environmental concerns or requirements
5. Tenant Improvements: Include when specific improvements by the tenant are permitted or required
6. Assignment and Subletting: Include when transfer of lease rights needs to be addressed
7. First Right of Refusal: Include when the tenant has priority rights to purchase if the property is offered for sale to others
8. Co-signer Provisions: Include when a guarantor is required for the lease or purchase
1. Schedule A - Property Details: Detailed property description, including legal description and floor plans
2. Schedule B - Rent Payment Schedule: Detailed breakdown of rent payments and due dates
3. Schedule C - Purchase Price Calculation: Formula for determining final purchase price, including any rent credits
4. Schedule D - Property Condition Report: Detailed assessment of property condition at lease commencement
5. Schedule E - Included Fixtures and Chattels: Itemized list of items included in both lease and sale
6. Schedule F - Insurance Requirements: Detailed insurance requirements for both lease and purchase phases
7. Appendix 1 - Property Photographs: Visual documentation of property condition
8. Appendix 2 - Required Repairs: List of repairs to be completed before sale closing
Authors
Real Estate
Commercial Property
Residential Property
Retail
Industrial
Hospitality
Healthcare
Professional Services
Manufacturing
Warehousing
Office Space
Legal
Real Estate
Finance
Compliance
Risk Management
Facilities Management
Business Development
Property Management
Asset Management
Operations
Investment
Real Estate Lawyer
Property Manager
Real Estate Agent
Real Estate Broker
Legal Counsel
Contract Manager
Chief Financial Officer
Business Development Manager
Facilities Manager
Risk Manager
Compliance Officer
Asset Manager
Investment Manager
Property Developer
Leasing Manager
Real Estate Investment Analyst
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