This form is an Option to Purchase, commonly known as a Lease Option or a Lease Purchase Option. We do not recommend the use of the word “Lease” in this document name as combining a Lease Agreement with the Purchase Option Agreement is dangerous. It could take the lease out of landlord/tenant law and require a foreclosure suit in circuit court if the tenant defaults under the Lease. This Purchase Option Agreement grants the tenant the right to purchase the rental property during the term of the lease. The tenant can gain credit towards the purchase price with each on-time rental payment. No credit is earned for late payments.
This form is intended to accompany our POWER LEASE-SINGLE FAMILY VERSION, a separate form that should be signed by both parties.
FLORIDA SPECIFIC and WRITTEN BY A LANDLORD/TENANT ATTORNEY (2007 Version)
