Residential Lease Agreement with Option to Purchase (Canada)

11 Reviews

This Residential Lease Agreement with Option to Purchase is used by a landlord who rents a property to a tenant and also gives the tenant the option to purchase the property. This agreement sets forth the terms of the lease agreement and contains a provision detailing the lease option

File types included

  • Microsoft Word
  • Adobe PDF
  • WordPerfect
  • Rich Text Format

Compatible with

  • Windows
  • Mac OS X
  • Linux

For Immediate Download

$20.95 CAD Add to Cart
60-Day Money Back Guarantee
Please select a state

Lawyer prepared

Our forms are kept up-to-date and accurate by our lawyers

Unlike other sites, every document on FindLegalForms.com is prepared by a lawyer, so you can be sure that you are getting a form that is accurate and valid in Canada.

Verified in Canada

Our forms are guaranteed
to be valid in Canada

Our team works tirelessly to keep our products current. As the laws change in Canada, so do our forms.

Over 3,500,000
satisfied customers

In over 10 years of creating and selling legal forms, our focus has never changed: providing our customers high quality legal products, low prices and an experience that takes some confusion out of the law.

60-Days Money Back

Try our forms with no risk

If you are unhappy with your form purchase for any reason at all, contact us within 60 days and we will refund 100% of your money back.
This Residential Lease Agreement with Option to Purchase is for use by a landlord who gives a tenant the option to purchase the rental property. This lease agreement with option allows a tenant to rent the property and exercise an option to purchase the property at a predetermined price within a certain amount of time (usually the beginning and ending dates of the lease). It also sets out the amount of monthly rent and security deposit and a provision which sets out the option to purchase in detail. This form also includes a useful Premises Inspection Sheet. It is imperative that this type of lease option agreement be set forth in writing and not by oral agreement. A written Residential Lease Agreement with Option to Purchase will prove invaluable in the event there are disagreements or misunderstandings between the parties regarding any provisions of the residential lease or option to purchase.

This Residential Lease Agreement with Option to Purchase includes the following provisions:
  • Leased Premises and Term of Lease: Sets forth the address and description of the property and the dates of the lease term;
  • Lease Payments and Late Fees: Sets out the amount of monthly rent, due date and penalties for late payments or insufficient funds;
  • Security Deposit: States the amount of the security deposit and conditions for the return of that deposit;
  • Option to Purchase: Sets forth that landlord grants tenant the exclusive right to purchase the property for a set price and when this option will expire. Tenant must notify landlord of any intention to exercise the purchase option and will give the landlord an additional deposit toward the purchase of the property. It also sets forth who will pay the closing costs and that landlord will convey the premises by warranty deed to tenant upon tenantís written intent to exercise the purchase option;
  • Default: Sets out what constitutes a default and the available remedies;
  • Use of Premises: States that the premises may only be used as a residence unless landlord gives written consent to use the premises as a business;
  • Possession of Property, Utilities and Pets: Describes when Tenant may take possession of the property, who is responsible for utilities and the policy regarding pets;
  • Insurance: Both parties will be required to maintain appropriate insurance on the property;
  • Additional Terms and Conditions: Sets forth any other terms and conditions not expressly set out in this agreement;
  • Signatures: Landlord and tenant must both sign this agreement.

Protect Your Rights and Your Property by using this accurate and easy to use form. This lawyer-prepared package includes:
  1. Instructions and Checklist
  2. General Information
  3. Residential Lease Agreement with Option to Purchase for use in Canada
Law Compliance: This form can be used in the following provinces: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Ontario, Prince Edward Island, Saskatchewan and Yukon
Number of Pages11
DimensionsDesigned for Letter Size (8.5" x 11")
EditableYes (.doc, .wpd and .rtf)
UsageUnlimited number of prints
Product number#43415

Customer Reviews

Average Rating: Full Rating Star Full Rating Star Full Rating Star Full Rating Star Full Rating Star Half Rating Star

Reviews: 11


Brandon,

FL

Full Rating Star Full Rating Star Full Rating Star Full Rating Star Full Rating Star
No Customer Comments


Tustin,

CA

Empty Rating Star Full Rating Star Full Rating Star Full Rating Star Full Rating Star
The form was perfect for what I needed for a client wanting an unorthodox Lease with Option. Wasn't sure if it was actually catered to AZ law, but it had all the terms and saved me from typing them all out. It covered everything and I like that it was deliverable in Word so that I could make the changes I needed to make.


Rossville,

KS

Full Rating Star Full Rating Star Full Rating Star Full Rating Star Full Rating Star
Everything was just what we needed. Thank you.


Abita Springs,

LA

Full Rating Star Full Rating Star Full Rating Star Full Rating Star Full Rating Star
This was exactly what we needed to get our transaction completed!


Elkton,

FL

Full Rating Star Full Rating Star Full Rating Star Full Rating Star Full Rating Star
Found it very easy to use. The instructions and checklists were very helpful.


View More

Looking for something else?