The Lease and Purchase Agreement is a sophisticated legal instrument used in Indian real estate transactions where parties wish to combine a leasing arrangement with a future purchase option. This document is particularly useful in situations where the potential buyer wishes to occupy and evaluate the property before making a full purchase commitment, or when financial arrangements necessitate a gradual transition to ownership. It must comply with multiple Indian legal frameworks including the Transfer of Property Act, state-specific property laws, and registration requirements. The agreement typically includes detailed provisions for rent payments, maintenance responsibilities, purchase price determination, conditions for exercising the purchase option, and the mechanism for transitioning from lease to ownership. This type of agreement is commonly used in both commercial and residential property transactions, providing flexibility while ensuring legal protection for all parties involved.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership of your docs
1. Parties: Identification of the lessor/seller and lessee/purchaser with complete details
2. Background: Context of the agreement, including property overview and intention to lease with option to purchase
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Detailed description of the property including boundaries, measurements, and registration details
5. Lease Terms: Duration, rent amount, payment schedule, and other lease-specific conditions
6. Purchase Option Terms: Conditions and process for exercising the purchase option, including timeline and notice requirements
7. Purchase Price and Payment: Total purchase price, credit of lease payments, payment structure, and completion timeline
8. Maintenance and Repairs: Responsibilities for property maintenance during lease period and transition of responsibilities upon purchase
9. Insurance and Taxes: Requirements for insurance coverage and responsibility for property taxes during both phases
10. Rights and Obligations: Detailed rights and obligations of both parties during lease and purchase phases
11. Default and Remedies: Events of default and available remedies for both lease and purchase components
12. Possession and Title: Terms regarding possession during lease and transfer of title upon purchase
13. Representations and Warranties: Statements and guarantees made by both parties
14. Governing Law and Jurisdiction: Applicable laws and courts having jurisdiction
15. Notices: Process and requirements for serving notices between parties
16. Execution: Signature blocks and execution requirements
1. Property Usage Restrictions: Include when there are specific restrictions on property use or modifications during lease period
2. Rent to Purchase Credit Mechanism: Include when portion of rent payments will be credited towards purchase price
3. Third Party Rights: Include when there are existing tenants, easements, or other third-party interests
4. Environmental Compliance: Include for industrial or commercial properties with environmental considerations
5. Fixtures and Fittings: Include when specific items are included/excluded from lease and purchase
6. Development Rights: Include when property has potential for development or construction
7. Assignment and Subletting: Include when transfer rights need to be specifically addressed
8. Force Majeure: Include when specific events beyond control need to be addressed
9. Stamp Duty Allocation: Include when specific arrangements for stamp duty payment need to be detailed
1. Property Description Schedule: Detailed property description including floor plans, boundaries, and measurements
2. Payment Schedule: Detailed breakdown of lease payments, purchase price, and payment milestones
3. Title Documents: List of title documents and their current status
4. Inventory List: Detailed list of fixtures, fittings, and other items included in lease and purchase
5. Condition Report: Initial condition report of the property at lease commencement
6. Maintenance Schedule: Detailed maintenance responsibilities and schedules
7. Encumbrance Certificate: Recent encumbrance certificate and details of any existing charges
8. Due Diligence Report: Summary of legal and technical due diligence findings
9. Compliance Certificates: Copies of relevant regulatory and compliance certificates
Find the exact document you need
Mining Option Agreement
An agreement under Indian law granting exclusive rights to explore and potentially acquire mining rights for a specific mineral property, subject to Indian mining regulations.
Download
Forbearance Agreement Mortgage
An Indian law-compliant agreement that temporarily modifies mortgage terms for borrowers facing financial hardship, establishing revised payment arrangements while preserving the lender's security interests.
Download
Property Options Contract
An Indian law-governed agreement granting the right to purchase specified property at predetermined terms within a set timeframe.
Download
Options Account Agreement
An India-compliant agreement between broker and client establishing terms for options trading account operation under SEBI regulations.
Download
Option To Renew Contract
An Indian law-compliant agreement establishing terms and procedures for contract renewal options, governed by the Indian Contract Act.
Download
Option To Purchase In Lease Agreement
An Indian law-compliant agreement combining property lease terms with an exclusive option for the tenant to purchase the property during a specified period.
Download
Option To Renew Commercial Lease
An Indian law-compliant agreement granting and specifying terms for a commercial tenant's right to renew their existing lease.
Download
Option Agreement Contract
An Indian law-governed agreement granting one party the right to execute a future transaction under specified terms and conditions within a set timeframe.
Download
Property Purchase Option Agreement
An Indian law-governed agreement granting exclusive rights to purchase specified property within a defined period at a predetermined price.
Download
Land Purchase Option Agreement
An Indian law-governed agreement granting exclusive rights to purchase specified land within a set timeframe and price.
Download
Buy Back Option Contract
An Indian law-governed agreement granting the seller the right to repurchase an asset from the buyer under specified terms and conditions.
Download
Optional Service Contract
An Indian law-governed agreement establishing terms for optional, as-needed service provision between a service provider and recipient.
Download
Option Extension Agreement
An Indian law-governed agreement that extends the duration and potentially modifies terms of an existing option agreement between parties.
Download
Extend Lease Agreement
An Indian law-compliant agreement that extends an existing lease term while maintaining or modifying original lease conditions.
Download
Option Cancellation Agreement
An Indian law-governed agreement that terminates an existing option agreement between parties, outlining cancellation terms and mutual releases.
Download
Vehicle Lease Agreement With Option To Purchase
An Indian law-compliant agreement for vehicle leasing with a purchase option, covering lease terms and conditions for eventual vehicle ownership transfer.
Download
Restricted Share Agreement
An Indian law-governed agreement for issuing company shares with restrictions and vesting conditions, ensuring compliance with Companies Act and SEBI regulations.
Download
Option Sales Contract
An Indian law-governed agreement granting the right to buy or sell an asset at predetermined terms within a specified period.
Download
First Refusal Agreement
An Indian law-governed agreement granting one party the priority right to enter into a transaction before third parties, with specified procedures and conditions for exercise.
Download
Single Option Agreement
An Indian law-governed agreement granting one party the right to execute a specific transaction with another party under predetermined terms and conditions.
Download
Repurchase Option Agreement
An Indian law-governed agreement granting the right to repurchase specific assets under predetermined conditions and timeframes.
Download
Non Exclusive Option Agreement
An Indian law-governed agreement granting non-exclusive rights to exercise an option for future transactions or acquisitions, while preserving the grantor's freedom to offer similar options to others.
Download
Lease And Purchase Agreement
An Indian law-governed agreement combining property lease terms with a future purchase option, detailing transition from tenant to owner status.
Download
Equipment Lease Agreement With Option To Purchase
An Indian law-governed agreement for equipment leasing with a purchase option, defining lease terms, maintenance obligations, and purchase conditions.
Download
Company Equity Share Agreement
An Indian law-governed agreement establishing terms and conditions for company equity share ownership, transfer, or issuance, ensuring compliance with Companies Act, 2013.
Download
Cash Payment Agreement
An Indian law-governed agreement establishing terms and conditions for cash payment obligations, including payment schedule, compliance requirements, and regulatory considerations.
Download
Owner Financing Lease Purchase Agreement
An Indian law-governed agreement combining property lease terms with a purchase option and owner financing arrangements.
Download
Purchase And Lease Agreement
An Indian law-governed agreement combining property sale and immediate leaseback arrangements, typically used in commercial real estate transactions.
Download
Owner Finance Purchase Agreement
An Indian law-compliant agreement combining property purchase and seller financing terms, enabling direct property purchase with owner-provided financing.
Download
Lease Option Agreement Contract
An Indian law-governed agreement combining property lease terms with a future purchase option, structured under the Transfer of Property Act and Contract Act.
Download
Short Term Investment Agreement
An Indian law-governed agreement establishing terms for temporary capital investment, including investment amount, returns, and exit provisions.
Download
Seller Financing Purchase Agreement
An Indian law-governed agreement where the property seller provides purchase financing to the buyer, combining elements of both sale and loan agreements.
Download
Option Agreement Intellectual Property
An Indian law-governed agreement granting the right to acquire specified intellectual property rights within a defined period.
Download
Rental Agreement With Option To Purchase
An Indian law-governed agreement combining property rental terms with an option for the tenant to purchase the property under specified conditions.
Download
Option To Lease Agreement
An Indian law-governed agreement granting a potential tenant the exclusive right to lease a property within a specified timeframe under predetermined terms.
Download
Land Option Contract
An Indian law-governed agreement granting exclusive rights to purchase specified land within a set timeframe, subject to agreed terms and conditions.
Download
Lease With Option To Buy Contract
An Indian law-compliant agreement combining property lease terms with a future purchase option, establishing rights and obligations for both leasing and potential property acquisition.
Download
Option Agreement (Real Estate)
An Indian law-governed agreement granting exclusive rights to purchase specified real estate property at predetermined terms within a set timeframe.
Download
ұԾ’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; ұԾ’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
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)