Document background
The Residential Lease Agreement With Option To Purchase is designed for use in Ireland when a property owner wishes to lease their residential property while also granting the tenant an option to purchase it in the future. This arrangement is particularly useful for tenants who want to eventually buy but need time to arrange financing or are not yet ready to commit to a purchase. The document must comply with Irish residential tenancy laws and property transfer regulations, making it suitable for both short-term occupancy and long-term property acquisition. It includes detailed provisions for the lease period, including rent, maintenance, and standard tenancy terms, as well as specific conditions for exercising the purchase option, such as the purchase price or calculation method, option period, and exercise procedures. This type of agreement requires careful consideration of both landlord-tenant law and property sale regulations to ensure all aspects are legally enforceable.
