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Property Lease With Option To Buy
"I need a Property Lease With Option To Buy agreement for a residential property in Dublin, Ireland, with a 2-year initial lease term starting March 1, 2025, and an option to purchase at a pre-agreed price of €450,000 that can be exercised after 18 months of tenancy."
1. Parties: Identification of the landlord/seller and tenant/potential buyer, including full legal names and addresses
2. Background: Context of the agreement, including property details and intention to combine lease with purchase option
3. Definitions: Defined terms used throughout the agreement, including specific terminology for both lease and purchase aspects
4. Lease Terms: Core lease provisions including duration, rent amount, payment terms, and renewal conditions
5. Property Use and Maintenance: Permitted use of property, maintenance responsibilities, and condition requirements
6. Option to Purchase: Details of the purchase option, including price, duration of option, and exercise conditions
7. Exercise of Option: Process and requirements for exercising the purchase option, including notice requirements
8. Purchase Price and Payment: Purchase price calculation, credit for rent paid, and payment terms upon exercise of option
9. Property Transfer Terms: Conditions and process for property transfer upon exercise of purchase option
10. Insurance Requirements: Required insurance coverage during lease term and transition to purchase
11. Default and Remedies: Consequences of default under either lease or purchase option terms
12. Notices: Requirements for formal communications between parties
13. Governing Law: Confirmation of Irish law governance and jurisdiction
14. Execution: Signature blocks and execution requirements
1. Mortgage Contingency: Terms relating to mortgage financing for purchase option, used when buyer likely requires financing
2. Property Management: Required when property is part of managed development or has shared facilities
3. Environmental Provisions: Used for properties with specific environmental concerns or requirements
4. Planning Permissions: Included when property requires specific planning permissions or has development potential
5. Break Clause: Optional early termination provisions, included when parties want flexibility
6. Assignment and Subletting: Terms for transferring lease rights, included when parties want to allow this possibility
7. Rent Review: Included for longer lease terms where rent adjustments may be needed
8. Management Company Provisions: Required for apartments or properties with management companies
1. Schedule 1: Property Description: Detailed description of property, including boundaries, maps, and included fixtures
2. Schedule 2: Rent Payment Schedule: Detailed breakdown of rent payments, including any scheduled increases
3. Schedule 3: Purchase Price Calculation: Formula and terms for calculating final purchase price, including any rent credits
4. Schedule 4: Condition Report: Initial property condition report with photographs and descriptions
5. Schedule 5: Permitted Alterations: List of alterations tenant is permitted to make during lease term
6. Schedule 6: Service Charges: Breakdown of service charges and management fees if applicable
7. Appendix A: Property Plans: Official property plans and drawings
8. Appendix B: Planning Documentation: Relevant planning permissions and certificates
9. Appendix C: Energy Performance Certificate: Current energy performance certificate for the property
Authors
Real Estate
Property Development
Residential Property
Commercial Property
Property Management
Legal Services
Financial Services
Construction
Housing
Property Investment
Legal
Real Estate
Property Management
Facilities
Operations
Finance
Asset Management
Risk Management
Compliance
Commercial
Property Manager
Real Estate Agent
Legal Counsel
Property Developer
Estate Agent
Conveyancing Solicitor
Property Investment Manager
Facilities Manager
Commercial Property Manager
Housing Officer
Leasing Manager
Asset Manager
Property Services Director
Contracts Manager
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