Document background
The House Lease With Option To Buy agreement is designed for situations where a property owner wishes to lease their property while giving the tenant an exclusive option to purchase it during or after the lease period. This arrangement is particularly useful in Canadian markets where buyers may need time to arrange financing or improve their credit position before purchase, or where sellers wish to secure a committed buyer while generating rental income. The document must comply with provincial residential tenancy laws and real estate regulations, incorporating standard lease provisions while also defining the option terms, purchase price mechanism, and conditions for exercising the option. It's commonly used in owner-financed arrangements, rent-to-own scenarios, or when parties want to lock in a future purchase price while maintaining a landlord-tenant relationship in the interim.
