The Lease Agreement With Option To Purchase is a sophisticated legal instrument used in Austrian real estate transactions where parties wish to combine a traditional lease arrangement with a future purchase opportunity. This document is particularly useful when a potential buyer wants to occupy and evaluate a property before committing to purchase, or when they need time to arrange financing. The agreement must comply with Austrian property law, including the ABGB and Mietrechtsgesetz, while addressing both the immediate leasehold relationship and the conditional future sale. It typically includes detailed provisions about property maintenance, rent payments, option exercise periods, purchase price calculations, and any rent credits that may apply toward the purchase price. This type of agreement is commonly used in both residential and commercial contexts, providing flexibility for both parties while establishing clear legal frameworks for both the lease period and potential property transfer.
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1. Parties: Identification of the landlord/potential seller and tenant/potential buyer with full legal names and addresses
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, Lease Period, Option Period, Purchase Price, etc.
4. Property Description: Detailed description of the leased property, including address, land register details, and included fixtures/fittings
5. Lease Terms: Core lease provisions including duration, rent amount, payment terms, and utility responsibilities
6. Security Deposit: Amount, payment terms, and conditions for return of the security deposit
7. Maintenance and Repairs: Responsibilities of each party regarding property maintenance and repairs
8. Insurance Requirements: Required insurance coverage for both parties during the lease period
9. Option to Purchase: Terms of the purchase option, including option period, exercise process, and purchase price determination
10. Exercise of Option: Procedure for exercising the purchase option, including notice requirements and timeline
11. Purchase Price and Payment: Specified purchase price or calculation method, including treatment of rent payments
12. Termination: Conditions and procedures for terminating the lease, including impact on purchase option
13. Governing Law: Specification of Austrian law as governing law and jurisdiction details
1. Property Management: Include when a property management company is involved in maintaining the property
2. Rent Credit: Include when a portion of rent payments will be credited toward the purchase price
3. Third-Party Rights: Include when there are existing mortgages or other encumbrances on the property
4. Environmental Provisions: Include for properties with potential environmental concerns or specific requirements
5. Property Improvements: Include when tenant is permitted to make improvements and how these affect purchase price
6. Assignment and Subletting: Include when these rights are specifically granted or prohibited
7. Option Extension: Include when the option period can be extended under specific conditions
1. Schedule 1 - Property Details: Detailed property description, including floor plans and land register extract
2. Schedule 2 - Inventory: List of fixtures, fittings, and furniture included in the lease and potential purchase
3. Schedule 3 - Rent Payment Schedule: Detailed breakdown of rent payments, including any scheduled increases
4. Schedule 4 - Purchase Price Calculation: Formula or method for calculating final purchase price, including any rent credits
5. Schedule 5 - Property Condition Report: Initial condition assessment of the property at lease commencement
6. Schedule 6 - Maintenance Responsibilities: Detailed breakdown of maintenance and repair responsibilities
7. Appendix A - Required Insurance: Specific insurance requirements for both parties
8. Appendix B - Option Exercise Form: Template form for exercising the purchase option
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Commercial Property
Residential Property
Retail
Industrial
Office Space
Hospitality
Manufacturing
Warehousing
Professional Services
Relevant Teams
Legal
Real Estate
Facilities Management
Finance
Operations
Risk Management
Property Management
Asset Management
Contract Administration
Business Development
Relevant Roles
Real Estate Manager
Property Manager
Legal Counsel
Real Estate Attorney
Facilities Manager
Asset Manager
Property Developer
Leasing Manager
Real Estate Broker
Contract Administrator
Risk Manager
Corporate Real Estate Director
Chief Financial Officer
Operations Manager
Business Development Manager
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