¶¶Òõ¶ÌÊÓÆµ

Lease Option Agreement Contract Template for Ireland

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

4.6 / 5
4.8 / 5

Let's create your Lease Option Agreement Contract

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:

Lease Option Agreement Contract

"I need a Lease Option Agreement Contract for a commercial warehouse property in Dublin, with a 3-year lease term starting March 1, 2025, and an option to purchase that can be exercised after 18 months, including provisions for industrial use and quarterly rent reviews."

Document background
The Lease Option Agreement Contract is a sophisticated legal instrument used in Irish property transactions where a potential buyer wishes to secure the right to purchase a property while leasing it in the interim. This arrangement is particularly valuable in situations where immediate purchase isn't feasible or desired, but the tenant wants to secure future purchase rights. The document comprehensively addresses both the leasing arrangement and the purchase option, including critical elements such as property description, lease terms, option period, purchase price, and exercise mechanisms. It must comply with Irish property law, including the Land and Conveyancing Law Reform Act 2009 and relevant landlord-tenant legislation. This type of agreement is commonly used in both commercial and residential contexts, offering flexibility while protecting the interests of both parties.
Suggested Sections

1. Parties: Identifies and defines the Landlord/Optionor and Tenant/Optionee with their full legal names and addresses

2. Background: Sets out the context of the agreement, including property ownership and parties' intentions regarding the lease and option

3. Definitions: Defines key terms used throughout the agreement including Property, Option Period, Option Price, and Lease Term

4. Lease Terms: Details the fundamental lease provisions including rent, term, maintenance obligations, and use restrictions

5. Option Grant: Explicitly grants the option to purchase and specifies the option period

6. Option Price and Payment Terms: States the agreed purchase price and payment structure if the option is exercised

7. Exercise of Option: Specifies the process and requirements for exercising the option

8. Title and Due Diligence: Addresses property title requirements and the due diligence process

9. Completion Process: Details the steps and requirements for completing the purchase if the option is exercised

10. Default and Remedies: Specifies what constitutes default under either the lease or option and the available remedies

11. Assignment and Transfer: Addresses whether and how the lease and/or option rights may be transferred

12. Notices: Specifies how and where formal notices must be delivered

13. Governing Law: Confirms Irish law governs the agreement and specifies jurisdiction for disputes

14. Execution: Formal signing section with date and witness requirements

Optional Sections

1. Option Fee: Required if there is a separate fee for the option, distinct from the lease payments

2. Rent Credit: Include when a portion of rent payments will be credited toward the purchase price

3. Property Maintenance During Option Period: Include for specific maintenance arrangements during the option period

4. Insurance Requirements: Include when specific insurance requirements beyond standard lease insurance are needed

5. Planning Permission: Include when the option exercise is conditional on obtaining specific planning permissions

6. Mortgage Contingency: Include when the option exercise is subject to the optionee obtaining financing

7. Environmental Provisions: Include for properties with known environmental concerns or requirements

8. Third-Party Consents: Include when the agreement requires specific third-party approvals

Suggested Schedules

1. Schedule 1 - Property Description: Detailed legal description of the property including boundaries, fixtures, and fittings

2. Schedule 2 - Lease Terms: Detailed lease provisions including rent reviews, service charges, and maintenance obligations

3. Schedule 3 - Option Exercise Notice: Template form for exercising the option

4. Schedule 4 - Permitted Use: Detailed description of how the property may be used during the lease term

5. Schedule 5 - Property Condition Report: Detailed assessment of property condition at lease commencement

6. Appendix A - Property Plans: Maps, floor plans, and other relevant property drawings

7. Appendix B - Building Regulations Compliance: Documentation of compliance with relevant building regulations

8. Appendix C - Property Title Documents: Copies of relevant title documents and searches

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

Commercial Property

Residential Property

Retail

Industrial

Office Space

Agriculture

Hospitality

Manufacturing

Warehousing

Professional Services

Relevant Teams

Legal

Real Estate

Property Management

Operations

Finance

Business Development

Facilities

Asset Management

Investment

Risk Management

Compliance

Relevant Roles

Property Manager

Real Estate Agent

Legal Counsel

Property Developer

Commercial Director

Facilities Manager

Asset Manager

Investment Manager

Property Solicitor

Lease Administrator

Real Estate Investment Director

Chief Financial Officer

Operations Director

Business Development Manager

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

Option Agreement For Purchase Of Real Property

An Irish law-governed agreement granting the right to purchase specified real property within a defined period under preset terms.

find out more

Life Rights Option Agreement

An Irish law agreement granting exclusive rights to option a person's life story for potential development into media content, subject to Irish and EU regulations.

find out more

Option To Renew Contract

An Irish law-governed agreement granting the right to extend an existing contract under specified terms and conditions.

find out more

Optional Service Contract

An Irish law-governed contract template for optional services that can be activated on demand, establishing terms and conditions for flexible service delivery.

find out more

Lease To Own Document

An Irish law-governed agreement combining a property lease with a future purchase option, establishing terms for both rental period and eventual property acquisition.

find out more

Option Cancellation Agreement

An Irish law-governed agreement that terminates an existing option arrangement between parties, setting out terms of cancellation and mutual releases.

find out more

First Refusal Agreement

An Irish law-governed agreement granting one party the priority right to enter into a business transaction before third parties.

find out more

Commercial Lease Agreement With Option To Purchase

An Irish law-governed commercial lease agreement that includes an option for the tenant to purchase the property, combining lease terms with future purchase rights.

find out more

Single Option Agreement

An Irish law-governed agreement granting one party the right to enter into a specified transaction with another party under predetermined terms and conditions.

find out more

Simple Stock Option Agreement

An Irish law-governed agreement setting out terms for granting and exercising company stock options, including vesting conditions and exercise rights.

find out more

Simple Right Of First Refusal Agreement

An Irish law agreement granting one party the right to enter into a transaction before the owner can offer it to third parties.

find out more

Repurchase Option Agreement

An Irish law-governed agreement granting the right to repurchase specific assets or property under predetermined terms and conditions.

find out more

Non Exclusive Option Agreement

An Irish law-governed agreement granting non-exclusive rights to acquire specified assets or rights within a defined period.

find out more

Master Leasing Agreement

An Irish law-governed framework agreement establishing terms for multiple equipment leasing arrangements between lessor and lessee.

find out more

Lease To Own Land Agreement

An Irish law-governed agreement combining a land lease with a future purchase option, establishing terms for both temporary occupation and eventual ownership transfer.

find out more

Lease And Purchase Agreement

An Irish law-governed agreement combining property lease terms with a future purchase option, detailing both rental and purchase conditions.

find out more

Land Lease Purchase Agreement

An Irish law-governed agreement combining property lease terms with a future purchase option, setting out conditions for both temporary occupation and eventual ownership transfer.

find out more

Equipment Lease Agreement With Option To Purchase

An Irish law-governed agreement establishing terms for equipment leasing with a future purchase option, including payment terms, maintenance responsibilities, and purchase conditions.

find out more

Cash Payment Agreement

An Irish law-governed agreement establishing terms and conditions for cash payment obligations, including regulatory compliance requirements.

find out more

Business Lease Purchase Agreement

An Irish law-governed agreement combining commercial property lease terms with a future purchase option or obligation, designed for business property transactions.

find out more

Lease Option Agreement Contract

An Irish law-governed agreement combining a property lease with an option to purchase, establishing terms for both temporary occupation and potential future ownership.

find out more

Option To Purchase Business Agreement

An Irish law agreement granting the right to purchase a business under specified terms and conditions within an agreed timeframe.

find out more

Rental Agreement With Option To Purchase

An Irish law-governed agreement combining a residential lease with an option for the tenant to purchase the property under specified terms and conditions.

find out more

Residential Lease Agreement With Option To Purchase

An Irish law-governed agreement combining a residential property lease with an option for the tenant to purchase the property during or after the lease term.

find out more

License Option Agreement

An Irish law agreement granting the right to enter into a future license agreement for intellectual property under specified terms and conditions.

find out more

Hire Purchase Agreement For Machinery

An Irish law-governed agreement for the hire purchase of industrial machinery, enabling businesses to acquire equipment through installment payments while maintaining use.

find out more

Commercial Lease Purchase Agreement

An Irish law-governed agreement combining a commercial property lease with a future purchase option, detailing terms for both lease period and potential acquisition.

find out more

Vehicle Lease To Own Agreement

An Irish law-governed agreement establishing terms for a vehicle lease-to-own arrangement, including payment schedule, maintenance obligations, and eventual ownership transfer conditions.

find out more

Stock Option Agreement

An Irish law-governed agreement setting out terms for granting company stock options to individuals, including exercise rights, vesting conditions, and regulatory compliance requirements.

find out more

Option To Purchase Agreement

An Irish law-governed agreement granting the right to purchase specified property at agreed terms within a set timeframe.

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.