Option To Purchase In Lease Agreement Template for Canada

1. Financing Contingency: Include when buyer requires financing to exercise the option

2. Rent Credit: Include when a portion of rent payments will be credited toward the purchase price

3. Property Maintenance During Option Period: Include when special maintenance terms apply during the option period

4. Assignment and Subletting: Include when transfer of option rights needs to be addressed

5. Environmental Matters: Include for commercial properties or when environmental concerns exist

6. Development Rights: Include when property may be developed or significantly modified

7. First Right of Refusal: Include when tenant has right to match third-party offers

8. Option Extension Terms: Include when option period may be extended under specific conditions

1. Schedule A - Property Description: Legal description of the property and any included fixtures or improvements

2. Schedule B - Rent Schedule: Detailed breakdown of rent payments and increases over the lease term

3. Schedule C - Purchase Price Calculation: Formula or method for determining final purchase price, including rent credits if applicable

4. Schedule D - Permitted Encumbrances: List of accepted liens, easements, or other encumbrances on the property

5. Schedule E - Form of Exercise Notice: Template for properly exercising the purchase option

6. Schedule F - Current Property Condition Report: Documentation of property condition at lease commencement

7. Appendix 1 - Required Insurance: Detailed insurance requirements for both lease and option periods

8. Appendix 2 - Environmental Reports: Any existing environmental assessments or reports