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Lease to Purchase Option Agreement
Free lease-to-purchase (rent-to-own) agreement template — a tenant leases with an option to buy the property later.
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This free lease to purchase option agreement covers 1. Lease, 2. Option to Purchase, 3. Option Fee, 4. Rent Credit (if applicable), 5. Exercising the Option with 7 clearly marked [placeholder] fields to fill in — built for landlords, tenants, and small property owners documenting a lease or tenancy change clearly, without guessing at the right structure. Copy it into your own word processor, fill in the placeholders, and review it — or adapt it — before use. It's part of docstoc's free document template library, alongside business, legal, real estate, finance, and HR templates. Every template here is free to copy with no signup required, and each one carries a plain disclaimer: this is a starting point for informational purposes, not a substitute for advice from a licensed professional in your jurisdiction.
Lease to Purchase Option Agreement
Landlord/Seller: [Name] Tenant/Buyer: [Name] Property: [Address] Lease Term: [Start Date] – [End Date]
1. Lease
Landlord leases the Property to Tenant for the term above, at a monthly rent of [Amount].
2. Option to Purchase
Landlord grants Tenant the exclusive option to purchase the Property for [Purchase Price], exercisable at any time before [Option Expiration Date].
3. Option Fee
Tenant pays a non-refundable option fee of [Amount] upfront. [If applicable: "credited toward the purchase price if the option is exercised."]
4. Rent Credit (if applicable)
[State whether a portion of monthly rent — e.g. $X — is credited toward the purchase price if the option is exercised.]
5. Exercising the Option
To exercise, Tenant must provide written notice before the Option Expiration Date and proceed to close per standard purchase timelines, typically financing the balance.
6. If the Option Is Not Exercised
If Tenant does not exercise the option by the expiration date, the option fee and any rent credits are forfeited, and Tenant has no further right to purchase.
7. Maintenance During Lease
[State who is responsible for repairs/maintenance during the lease term — often more like a purchase-track responsibility than a typical rental.]
Landlord/Seller: ______________________ Date: ____________ Tenant/Buyer: ______________________ Date: ____________
*This document is provided for informational and educational purposes only and does not constitute legal advice. Rent-to-own arrangements have drawn increased regulatory scrutiny in several states due to past abuses — confirm your state's specific requirements (some now regulate these similarly to contracts for deed) before using one.*
Edit directly in the box above. Download PDF anytime — the docstoc.io footer is always included and cannot be removed.
What's included
- Edit online — click the document, fill in placeholders, download a PDF
- 7 standard sections: 1. Lease, 2. Option to Purchase, 3. Option Fee, 4. Rent Credit (if applicable), 5. Exercising the Option, 6. If the Option Is Not Exercised, …
- 7 clearly marked [placeholder] fields for quick personalizing
- Free to use — no account or signup required
- Fully editable — adjust any clause to match your actual situation
- Includes a signature block, ready to print or sign digitally
- Fixed docstoc.io footer on every PDF (not removable)
Who this template is for
Freelancers & solo founders
Handling routine business paperwork without commissioning custom legal drafting for every document.
Small businesses
Standardizing recurring documents — leases, agreements, notices — across a growing operation.
Anyone reviewing before signing
Using a clear starting structure to understand what a document should cover, even if a lawyer finalizes it.
Independent landlords
Managing a rental directly, without a property management company's paperwork.
FAQ
Is this lease to purchase option agreement template really free?
Yes, completely free — view, edit, and download this lease to purchase option agreement as a PDF without creating an account.
What does this lease to purchase option agreement cover?
This real estate template includes 1. Lease, 2. Option to Purchase, 3. Option Fee, 4. Rent Credit (if applicable). Fill in the [bracketed] placeholders, edit any clause online, then download a PDF — the docstoc.io footer stays on every export.
Is this legal advice?
No. Landlord-tenant law is one of the most locally-specific areas of law in the US — notice periods, required disclosures, and even what a lease is allowed to say vary by state and often by city. Check your local requirements (or a real estate attorney) before using this for an actual lease or notice.
Can I edit the wording?
Yes — edit directly on the page, adjust any section or clause, and re-fill the 7 placeholder fields to match your situation before downloading a PDF. It's a starting structure, not a rigid script.
Where can I find more free templates like this?
Browse more free real estate and related document templates in the docstoc library at /document-templates/.
More free document templates
- Residential Lease Agreement
- Notice to Vacate / Lease Termination Letter
- Rental Application
- Deed of Trust
- Rent Receipt
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