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The Lease with Option to Purchase agreement is a sophisticated legal instrument used in Pakistani property transactions where parties wish to combine immediate property occupation through a lease with future purchase rights. This arrangement is particularly useful when a potential buyer needs time to arrange financing or wants to test the property's suitability before committing to a purchase. The document must adhere to Pakistani legal requirements, including proper registration under the Registration Act 1908 and appropriate stamp duty payment. It encompasses detailed terms for both the lease period (including rent, maintenance, and usage rights) and the purchase option (including price determination, exercise period, and completion procedures). This type of agreement is commonly used in both residential and commercial contexts, providing flexibility while ensuring legal protection for all parties involved.

1. Parties: Identification of the Lessor/Potential Seller and Lessee/Potential Buyer with complete details as required under Pakistani law

2. Background: Context of the agreement, including property details and parties' intentions regarding lease and future purchase

3. Definitions: Key terms used throughout the agreement, including specific Pakistani legal terminology

4. Lease Terms: Duration, rent amount, payment terms, and conditions of the lease period

5. Property Usage and Maintenance: Permitted use of property, maintenance responsibilities, and repair obligations

6. Option to Purchase: Terms of the purchase option, including price, exercise period, and procedure

7. Exercise of Option: Process and requirements for exercising the purchase option

8. Payment Terms: Detailed payment structure for both lease and purchase components

9. Security Deposit: Terms regarding security deposit, its maintenance and return/application to purchase price

10. Insurance and Taxes: Requirements for property insurance and responsibility for various taxes

11. Default and Remedies: Consequences of default under either lease or purchase option terms

12. Registration and Stamp Duty: Requirements for registration and stamp duty compliance under Pakistani law

13. Governing Law and Jurisdiction: Specification of Pakistani law application and jurisdiction

14. Notices: Process for formal communications between parties

15. Execution: Signature blocks and attestation requirements as per Pakistani law