¶¶Òõ¶ÌÊÓÆµ

Purchase Lease Option Property Template for Canada

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Purchase Lease Option Property

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Purchase Lease Option Property

"I need a Purchase Lease Option Property agreement for a commercial retail space in Ontario, with a 2-year lease term starting March 1, 2025, and an option to purchase at a pre-determined price of $750,000 that can be exercised after 18 months of tenancy."

Document background
The Purchase Lease Option Property agreement is a sophisticated legal instrument used in Canadian real estate transactions when a potential buyer wishes to lease a property while maintaining the exclusive right to purchase it in the future. This document is particularly valuable in situations where immediate purchase isn't feasible or desired, but there's interest in securing future ownership rights. It combines elements of a standard lease agreement with an option to purchase, typically including detailed terms about rent payments, property maintenance, option fees, purchase price determination, and conditions for exercising the option. The agreement must comply with various Canadian federal and provincial regulations, including real estate laws, tenancy acts, and contract law. It's commonly used in both residential and commercial contexts, offering flexibility to both property owners and potential buyers while establishing clear legal parameters for the eventual property transfer.
Suggested Sections

1. Parties: Identification of all parties involved in the agreement, including full legal names and addresses

2. Background: Context of the agreement and brief description of the property and transaction structure

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Description: Detailed description of the property including legal description and address

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

6. Option Terms: Details of the purchase option including option fee, duration, and exercise conditions

7. Purchase Price and Terms: Agreed purchase price, payment terms, and any rent credits applied to purchase

8. Maintenance and Repairs: Responsibilities for property maintenance, repairs, and improvements during the lease period

9. Insurance and Property Taxes: Requirements for insurance coverage and responsibility for property taxes

10. Default and Remedies: Consequences of default under either lease or option terms and available remedies

11. Assignment and Subletting: Terms regarding transfer of lease or option rights

12. Notices: Requirements for formal communications between parties

13. Governing Law: Specification of applicable Canadian jurisdiction and laws

14. Entire Agreement: Integration clause and relationship between lease and option components

Optional Sections

1. Property Management: Include when a property manager will be involved in administering the lease

2. Environmental Matters: Include for properties with known environmental concerns or industrial usage

3. Tenant Improvements: Include when specific improvements are planned or permitted during the lease term

4. Right of First Refusal: Include if tenant has additional rights beyond the option to purchase

5. Financing Contingencies: Include when purchase option exercise is subject to financing conditions

6. Property Inspection: Include when specific inspection rights are granted during the option period

7. Multiple Units: Include when the property contains multiple units or shared facilities

Suggested Schedules

1. Schedule A - Property Description: Detailed legal description and property boundaries

2. Schedule B - Rent Schedule: Detailed breakdown of rent payments and increases over the lease term

3. Schedule C - Option Exercise Price Calculation: Formula for determining final purchase price including rent credits

4. Schedule D - Property Condition Report: Initial condition assessment and documentation of the property

5. Schedule E - Permitted Uses: Specific allowed uses of the property during the lease term

6. Appendix 1 - Property Photos: Current photographs of the property condition

7. Appendix 2 - Insurance Requirements: Detailed insurance coverage requirements

8. Appendix 3 - Maintenance Standards: Specific maintenance requirements and standards

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions



















































Clauses








































Relevant Industries

Real Estate

Property Development

Residential Housing

Commercial Property

Property Investment

Property Management

Legal Services

Financial Services

Insurance

Property Tech

Relevant Teams

Legal

Real Estate Operations

Property Management

Contract Administration

Risk and Compliance

Investment

Asset Management

Business Development

Finance

Operations

Relevant Roles

Real Estate Lawyer

Property Manager

Real Estate Agent

Real Estate Broker

Legal Counsel

Contract Manager

Property Developer

Investment Manager

Real Estate Investment Officer

Lease Administrator

Risk Manager

Commercial Property Manager

Asset Manager

Compliance Officer

Real Estate Operations Director

Industries









Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

For Sale By Owner Contract Form

A legal agreement for private property sales in Canada conducted without real estate agents, outlining terms and conditions of the property transfer.

find out more

Real Estate Sales Form

A standardized Canadian real estate sales agreement template for documenting property transactions, compliant with federal and provincial regulations.

find out more

Simple Sales Commission Agreement

A Canadian-law governed agreement establishing commission-based sales arrangements between a company and sales representative, including payment terms and mutual obligations.

find out more

For Sale By Owner Offer Form

A Canadian legal document used for making formal offers to purchase property in For Sale By Owner (FSBO) transactions, complying with federal and provincial real estate laws.

find out more

Purchase Lease Option Property

A Canadian legal agreement combining a property lease with an option to purchase, establishing terms for both current tenancy and future property acquisition.

find out more

Car Purchase Contract

A Canadian-compliant contract governing the sale and purchase of a motor vehicle, outlining key terms, conditions, and ownership transfer details.

find out more

Purchase Price Agreement

A Canadian law agreement setting out the terms and conditions for payment of a purchase price, including payment structure, timing, and adjustments.

find out more

Absolute Agreement Of Sale

A legally binding Canadian agreement for the unconditional sale and transfer of property or assets between parties, governed by federal and provincial laws.

find out more

Sales Contract Export Import

Canadian-law governed contract for international sale and purchase of goods, incorporating federal trade laws and international conventions.

find out more

Sale Agreement Without Possession

Canadian law-governed agreement for the sale of goods where the seller maintains possession after sale completion, addressing title transfer, risk, and storage arrangements.

find out more

Sale Agreement Online

A Canadian-law governed agreement establishing terms and conditions for online sales transactions, ensuring compliance with e-commerce regulations and consumer protection laws.

find out more

Private Sale Of House Contract

A Canadian legal agreement for the direct sale of residential property between private parties, outlining all terms and conditions of the property transaction.

find out more

Contract To Sell House By Owner

A legally binding agreement for private property sales in Canada conducted without a real estate agent, outlining all aspects of the house sale transaction.

find out more

Employment Agreement After Sale Of Business

Canadian employment agreement template for continuing employment following a business acquisition or transfer, ensuring compliance with successor employer obligations.

find out more

Commercial Real Estate Purchase Agreement Form

Canadian-law governed agreement for commercial real estate purchase transactions, detailing terms, conditions, and obligations for both parties.

find out more

Agreement Of Sale With Possession

A Canadian legal document combining property sale terms with pre-closing possession arrangements, governed by federal and provincial real estate laws.

find out more

Lease Agreement For Sale

A Canadian-law governed agreement establishing terms for leasing property with subsequent purchase rights, combining lease and sale elements under provincial regulations.

find out more

Sale And Construction Agreement

A Canadian legal agreement combining property sale terms with construction specifications and requirements, governing both the purchase and building aspects of a property development transaction.

find out more

Export Sales Contract

A Canadian law-governed contract establishing terms for international sale and export of goods, including delivery, payment, and regulatory compliance requirements.

find out more

Contract For Dog Purchase

A Canadian legal agreement for the sale and purchase of a dog, including health guarantees, ownership transfer terms, and compliance with provincial animal welfare regulations.

find out more

Sale Of Partnership Interest Agreement

A Canadian law-governed agreement documenting the sale and transfer of partnership interest between parties, including terms, conditions, and obligations of the transaction.

find out more

Sale And Purchase Agreement Key Terms

Canadian-law governed document outlining key terms and conditions for sale and purchase transactions, serving as a foundation for detailed agreement preparation.

find out more

Contract To Sell Form

A Canadian-compliant legal document that formalizes the terms and conditions of a sale transaction between parties, governed by provincial and federal laws.

find out more

Bulk Sale Agreement

A Canadian legal agreement governing the sale of substantial business assets in bulk, ensuring compliance with federal and provincial requirements while protecting all parties' interests.

find out more

Pre Sale Contract

Canadian-law governed agreement for the purchase of pre-construction property, outlining terms between developer and purchaser including payment, construction, and closing requirements.

find out more

Letter Of Intent Sales

A preliminary document under Canadian law outlining proposed terms and conditions for a sales transaction, serving as a framework for negotiations and future definitive agreements.

find out more

Simple Purchase Contract

A Canadian-law governed contract for the basic purchase and sale of goods, incorporating essential commercial terms and legal requirements.

find out more

Whole Sale Contract

A Canadian-law governed agreement establishing terms and conditions for wholesale trading relationships between suppliers and buyers.

find out more

Power Sales Agreement

A Canadian-law governed agreement for the sale and purchase of electrical power, incorporating federal and provincial regulatory requirements.

find out more

Binding Sale Agreement

A Canadian-law governed agreement that documents the terms and conditions for the sale and transfer of goods, property, or assets between parties.

find out more

Simple Sales Contract

A straightforward Canadian sales agreement outlining terms and conditions for the sale of goods between two parties.

find out more

Bill Of Sale Agreement

A Canadian legal document that formalizes the transfer of ownership of personal property from seller to buyer, compliant with provincial and federal requirements.

find out more

Bill Of Sale For Business

A Canadian legal document that transfers business ownership from seller to buyer, detailing terms, conditions, and asset transfers in compliance with federal and provincial laws.

find out more

Partnership Sale Agreement

Canadian-law governed agreement for the sale and transfer of partnership interests, detailing terms, conditions, and regulatory compliance requirements.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: /our-research
Oops! Something went wrong while submitting the form.

³Ò±ð²Ô¾±±ð’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ³Ò±ð²Ô¾±±ð’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our for more details and real-time security updates.