A sample lease purchase is an organised and systematic enlistment of the conditions entailed in purchase of a lease. It is a legal deed closed in the presence of the participants including the witnesses. Lease purchase takes place between two people, a person who rents the property and a person who hires it. The terms of the deal are agreed upon by both lesser and the lessee that are laid down with professional help.
Sample Lease Purchase
Lease Number: 436303
This lease purchase is to confirm that I, Henry Anniston, as lessee, have leased a _____________ [details of the property] from the lesser, Ryan Collin, owner of the property, on 10th November, 2011. The lease is valid till 10th December, 2011. The details of the contract are stated below:
- Date(s) of validity: 10th November, 2011 to 10th December, 2011.
- Payment made: An initial amount of $374638 has been deposited by means of a cheque [Cheque number: 482444]. The remaining amount of $462546 will be paid at the end of the contract.
- Proofs submitted: Residential Proof, Identity Proof, Relevant License and Income Certificate [Enclose the photocopies of relevant documents]. These have been duly attested.
- The deed has been closed in the presence of: Howard Calvin [attorney at law] and William Howard.
- If the property is damaged in any manner, it will be considered infringement of the stated terms.
- In case of term infringement, the lessee will be liable to a punishment of up to 4 years of imprisonment and/or penalty of $ 70,000.
Signatures [in full]: __________________________________ [Henry Anniston]
___________________________________ [Ryan Collin]