Rent to Own Agreement Sample Form

LEASE TO PURCHASE OPTION AGREEMENT
This Lease to Purchase Option Agreement (“Option to Purchase Agreement”) is made on
__________________________ [month, day, year] between
___________________________________________________________ (the “Seller/Landlord”) and
___________________________________________________________ (the “Buyer/Tenant”).
WHEREAS, Seller/Landlord is the fee owner of certain real property being, lying and situated in
_______________ County, Alabama, such real property having a street address of
_____________________________________________
___________________________________________________________________________________
(the “Property”).
WHEREAS, Seller/Landlord and Buyer/Tenant have together executed a prior lease agreement, the subject
of which is the aforementioned Property (the “Lease Agreement”).
NOW, THEREFORE, for and in consideration of the covenants and obligations contained herein and
other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Seller/
Landlord hereby grants to Buyer/Tenant an exclusive option to purchase the aforementioned “Property.”
The parties hereto hereby agree as follows:
1. Rent: Tenant shall pay Landlord the annual rent of $______________ during said term, in monthly
payments of $______________, each payable monthly on the first day of each month in advance at such
place as we may from time to time specify by written notice to you. Tenant shall pay a security deposit of
$______________ to be returned upon termination of this Lease and the payment of all rents due and
performance of all other obligations.
2. Utilities and Services: Tenant shall at its own expense provide the following utilities or services:
Tenant must pay promptly as they become due all charges for furnishing
__________________________________________ [specify, e.g., water, electricity, garbage service, and
other public utilities] to the premises during the lease term.
Landlord shall at its expense provide the following utilities or services:
__________________________________________ [specify]
Landlord does not warrant the quality or adequacy of the utilities or services specified above, nor does
Landlord warrant that any of the utilities or services specified above will be free from interruption caused
by repairs, improvements, or alterations of the building or the premises or any of the equipment and
facilities of the building, any labor controversy, or any other causes of any kind beyond Landlord's
reasonable control. Any such interruption--and any other inability on Landlord's part to fulfill Landlord's
lease obligations resulting from any such cause--will not be considered an eviction or disturbance of
Tenant's use and possession of the premises, or render Landlord liable to Tenant for damages, or relieve
Tenant from performing Tenant's lease obligations.
3. Tenant further agrees that:
a) Condition of Premises: Upon the expiration of the Lease it shall return possession of the leased
premises in its present condition, reasonable wear and tear, fire casualty excepted. Tenant shall commit no
waste to the leased premises.
b) Assignment or Subletting: Tenant shall not assign or sublet said premises or allow any other person to
occupy the leased premises without Landlord's prior written consent.
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