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Purchase Lease Option Agreement
"Need a Purchase Lease Option Agreement for a commercial property in Singapore CBD, with a 2-year lease term starting March 2025 and an option to purchase at a fixed price of SGD 2.5M, where the tenant is a foreign company requiring special approval provisions."
1. Parties: Identification of lessor/optionor and lessee/optionee with full legal names and addresses
2. Background: Context of the agreement, property details, and purpose of the arrangement
3. Definitions: Key terms used throughout the agreement including Property, Option Period, Purchase Price, etc.
4. Grant of Lease: Terms and conditions of the lease arrangement
5. Option to Purchase: Details of the option, exercise period, and mechanism
6. Consideration: Option fee, lease payments, and purchase price details
7. Exercise of Option: Process and requirements for exercising the purchase option
8. Completion: Requirements and process for completing the purchase
9. Governing Law: Specification of Singapore law as governing law
1. Due Diligence: Property inspection and verification rights - Used for properties requiring significant verification or with potential issues
2. Property Management: Maintenance and management responsibilities during lease period - Used for properties requiring specific maintenance arrangements
3. Assignment Rights: Rights to assign the option or lease - Used when parties want to allow transfer of rights
4. Foreign Ownership Compliance: Additional requirements for foreign buyers - Used when optionee is a foreign person/entity
1. Property Description Schedule: Detailed description of property including lot number, floor area, boundaries
2. Lease Terms Schedule: Detailed lease conditions, rental amounts, payment schedules
3. Option Exercise Form: Template form for exercising the purchase option
4. Property Condition Report: Current condition of property and any existing defects
5. Payment Schedule: Breakdown of all payments including option fee, rent, and purchase price
Authors
Completion
Completion Date
Deposit
Exercise Notice
Exercise Period
Lease Commencement Date
Lease Period
Lease Premises
Lease Term
Lessor
Lessee
Option
Option Fee
Option Period
Optionor
Optionee
Parties
Permitted Use
Property
Purchase Price
Rent
Security Deposit
Stamp Duty
Title Deeds
Working Day
Encumbrances
Outgoings
Property Tax
Fixtures and Fittings
Common Areas
Building
Relevant Authority
GST
Force Majeure Event
Grant of Lease
Grant of Option
Rent and Payment Terms
Option Fee
Purchase Price
Exercise of Option
Completion
Property Condition
Representations and Warranties
Maintenance and Repairs
Insurance
Assignment and Subletting
Default and Termination
Property Use and Access
Utilities and Outgoings
Alterations and Improvements
Compliance with Laws
Force Majeure
Notices
Stamp Duty
Property Tax
Security Deposit
Quiet Enjoyment
Due Diligence
Title and Ownership
Indemnification
Dispute Resolution
Governing Law
Entire Agreement
Severability
Costs and Expenses
Confidentiality
Registration
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