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The Lease Option Agreement Property For Sale is a specialized legal instrument used in the United Arab Emirates real estate market that provides tenants with both immediate occupancy rights and a future purchase opportunity. This document is particularly relevant when potential buyers need time to arrange financing or want to "test" the property before committing to purchase, or when sellers wish to secure a potential buyer while generating rental income. The agreement must comply with UAE federal property laws and emirate-specific regulations, including RERA requirements and Land Department guidelines. It combines detailed lease provisions (rent, maintenance, duration) with specific option terms (purchase price, option period, exercise conditions), making it suitable for both residential and commercial properties. The document typically includes provisions for option fees, purchase price calculations, and the mechanism for exercising the purchase option.

1. Parties: Identification of the property owner/lessor and the tenant/potential buyer, including full legal names, addresses, and Emirates ID numbers

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

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

4. Property Details: Comprehensive description of the property, including address, title deed number, and registration details

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

6. Option Grant: Details of the exclusive option to purchase granted to the tenant, including option period and exercise conditions

7. Option Fee: Amount of option fee, payment terms, and whether it's applicable to purchase price

8. Purchase Price: Agreed purchase price for the property if option is exercised, including any adjustments or credits

9. Exercise of Option: Procedure for exercising the option, including notice requirements and timeframes

10. Completion of Purchase: Process and requirements for completing the purchase if option is exercised

11. Tenant's Obligations: Responsibilities of tenant during lease period, including maintenance, repairs, and compliance with laws

12. Landlord's Obligations: Responsibilities of landlord during lease period and in relation to the option

13. Default and Remedies: Consequences of default by either party and available remedies

14. Governing Law: Specification of UAE law application and jurisdiction

15. Notices: Process for giving formal notices under the agreement

16. Execution: Signature blocks and execution requirements