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Lease Option Agreement Property For Sale
"I need a Lease Option Agreement Property For Sale for a commercial retail space in Dublin, with a 2-year lease term starting March 1, 2025, and an option to purchase the property at €750,000, where 25% of the paid rent will count towards the purchase price."
1. Parties: Identification of the Property Owner/Landlord and the Tenant/Option Holder
2. Background: Context of the agreement, including property details and purpose of the arrangement
3. Definitions: Definitions of key terms used throughout the agreement
4. Grant of Lease: Terms and conditions of the lease, including duration and permitted use
5. Rent and Other Payments: Rental amount, payment terms, deposits, and other financial obligations
6. Option to Purchase: Terms of the purchase option, including option period and exercise process
7. Purchase Price: Agreed purchase price and any adjustments or credits from lease payments
8. Exercise of Option: Process and requirements for exercising the purchase option
9. Tenant Covenants: Obligations and responsibilities of the tenant during the lease period
10. Landlord Covenants: Obligations and responsibilities of the landlord during the lease period
11. Property Condition: State of the property and maintenance responsibilities
12. Insurance and Risk: Insurance requirements and allocation of risk
13. Default and Remedies: Consequences of breach and available remedies
14. Termination: Circumstances and process for termination of the agreement
15. Notices: Process for formal communications between parties
16. Governing Law: Confirmation of Irish law as governing law and jurisdiction
17. Execution: Signature blocks and execution formalities
1. Assignment and Subletting: Include when transfer rights need to be addressed specifically
2. Planning Permissions: Include when property requires specific planning considerations or permits
3. Management Company Provisions: Include for properties within managed developments
4. Break Clause: Include when early termination options are needed
5. Rent Review: Include for longer lease terms requiring rent adjustment mechanisms
6. Environmental Matters: Include when property has specific environmental considerations
7. VAT Provisions: Include when VAT implications need to be addressed
8. Mortgage Contingency: Include when purchase option is subject to mortgage approval
1. Schedule 1 - Property Description: Detailed description of the property including boundaries and maps
2. Schedule 2 - Fixtures and Fittings: Inventory of items included/excluded in lease and potential sale
3. Schedule 3 - Rent Payment Schedule: Detailed breakdown of rent payments and due dates
4. Schedule 4 - Option Price Calculation: Formula for calculating final purchase price including rent credits
5. Schedule 5 - Property Title Documents: List of relevant title documents and encumbrances
6. Appendix A - Property Plans: Maps, floor plans, and other property diagrams
7. Appendix B - Condition Report: Initial property condition documentation with photographs
8. Appendix C - Required Repairs: List of any repairs or improvements required before sale completion
Authors
Real Estate
Property Development
Residential Property
Commercial Property
Property Investment
Legal Services
Property Management
Construction
Urban Development
Housing
Legal
Real Estate
Property Management
Compliance
Risk Management
Operations
Facilities
Investment
Asset Management
Contract Administration
Property Lawyer
Real Estate Agent
Property Manager
Legal Counsel
Contract Manager
Property Developer
Asset Manager
Investment Manager
Facilities Manager
Compliance Officer
Real Estate Investment Director
Property Portfolio Manager
Acquisitions Manager
Real Estate Operations Manager
Legal Risk Manager
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