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Contract For Lease To Own
"I need a Contract For Lease To Own for a commercial property in Manchester, with a 3-year lease period starting March 2025 and an option to purchase at £450,000, including specific provisions for the tenant to undertake renovations during the lease period."
1. Parties: Identification and details of the landlord/seller and tenant/buyer
2. Background: Context of the agreement and brief property description
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed description of the property including boundaries and included fixtures
5. Lease Terms: Duration, rent, payment terms, and maintenance obligations
6. Purchase Option: Terms of the option to purchase, including price and exercise period
7. Default Provisions: Consequences of breach and remedies
1. Service Charge Provisions: Required if property is part of larger development with shared facilities
2. Management Company Provisions: Details of property management arrangements when a management company is involved
3. Break Clause: Early termination provisions when parties want flexibility to end agreement early
1. Property Plan: Detailed plan showing property boundaries and any shared areas
2. Inventory: List of included fixtures, fittings, and contents
3. Rent Payment Schedule: Detailed breakdown of rent payments and purchase price contributions
4. Property Condition Report: Initial condition assessment and photographs
5. Service Charge Budget: Breakdown of service charge calculations for properties with shared facilities
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