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Rent To Own Lease Agreement
"Need a Rent To Own Lease Agreement for a 3-bedroom condominium in Singapore, with a 24-month rental period starting March 2025 and purchase option exercisable after 18 months, including provisions for 50% of monthly rent to be credited towards the purchase price."
1. Parties: Identification and details of the landlord/seller and tenant/buyer
2. Background: Context of the agreement and property details
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed description of the property including address and specifications
5. Lease Terms: Duration, rent amount, payment terms
6. Purchase Option Terms: Purchase price, option period, exercise conditions
7. Rent Credit Provisions: How rental payments apply to purchase price
8. Maintenance and Repairs: Responsibilities for property maintenance and repairs
9. Insurance Requirements: Required insurance coverage for both parties
10. Default and Remedies: Consequences of default and available remedies
11. Governing Law: Specification of Singapore law as governing law
1. HDB Compliance: Special provisions for HDB properties including ethnic quotas and eligibility requirements
2. Renovation Terms: Rules and conditions for property modifications and improvements
3. Property Management: Terms relating to managed developments including facilities and common areas
4. Subletting Provisions: Terms and conditions if subletting is permitted
5. Early Termination: Conditions and process for early termination of the agreement
1. Schedule 1 - Property Inventory: Detailed list of fixtures, fittings, and furnishings included in the property
2. Schedule 2 - Payment Schedule: Breakdown of rental payments, purchase price, and how rental credits apply
3. Schedule 3 - Property Condition Report: Detailed documentation of property condition at commencement of lease
4. Schedule 4 - Option to Purchase Form: Standard form and procedure for exercising the purchase option
5. Schedule 5 - Maintenance Schedule: Schedule of regular maintenance and inspections required
6. Appendix A - Required Certificates: Copies of necessary certificates including fire safety and renovation permits
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