Fillable TEXAS LEASE TO OWN AGREEMENT

Fill Online, Printable, Fillable, Blank TEXAS LEASE TO OWN AGREEMENT Form

Use Fill to complete blank online OTHERS pdf forms for free. Once completed you can sign your fillable form or send for signing. All forms are printable and downloadable.

TEXAS LEASE TO OWN AGREEMENT

On average this form takes 23 minutes to complete

The TEXAS LEASE TO OWN AGREEMENT form is 8 pages long and contains:

  • 6 signatures
  • 0 check-boxes
  • 67 other fields

Country of origin: OTHERS
File type: PDF

BROWSE OTHERS FORMS

Related forms
Fill has a huge library of thousands of forms all set up to be filled in easily and signed.
Fill in your chosen form
Sign the form using our drawing tool
Send to someone else to fill in and sign.
find another form
 
Page 1 of 8
TEXAS LEASE TO OWN AGREEMENT
This Texas Lease Agreement with Option to Purchase Real Estate (hereinafter referred to as
the Lease/Option) made this ___ Day of ________ , ____ by and between ______________ the
“Landlord” and ______________ , ______________ , ______________, ______________ the
“Tenant(s)”. The Landlord and Tenant are collectively referred to in this Agreement as the
“Parties.”
In consideration of the mutual promises and covenants hereinafter stipulated, the parties hereby
agree as follows:
1. DESCRIPTION: The Landlord/Seller agrees to lease, and, the Tenant/Buyer agrees to
rent the real property and improvements, hereinafter called property; located at
______________________________________________________ , Texas
as more fully described as follows:
______________________________________________________________________
______________________________________________________________________
_____________________________________________________________________
2. TERM: The term of this Texas Lease shall be for a period of _____ months
commencing on ____ , _________ , 20___ and ending on ____ , _________ ,
20___.The term will be automatically extended for ________ periods of ________
months, unless the Tenant/Buyer gives notice to the Landlord/Seller of its intent to
terminate this Lease/Option, by mailing a written notice to the last provided address of
the Landlord/Seller. Liability for payment will not extend beyond notice to terminate this
agreement. Possession shall be given to Tenant/Buyer on _____ .
3. RENT: Tenant/Buyer agrees to pay to the Landlord/Seller, the sum of $_____ per
month, with the first payment beginning ______________ as rent for the property, for
the term of this Texas Lease/Option, and during any extensions thereof. All rental
payments shall be due and payable in advance on the 10th day of each and every
month. An amount equal to $_______ for each month in which rent was paid, shall be
credited to the Tenant/Buyer and applied to the purchase price of the property in the
Page 2 of 8
event that the Tenant/Buyer exercises its option hereunder; otherwise, this credit shall
be non-refundable and considered forfeited if the option is not exercised.
4. OPTION TO PURCHASE: The Tenant/Buyer, as part of the consideration herein, is
hereby granted the exclusive right, option and privilege of purchasing property at any
time during the term of this Texas Lease/Option agreement or any extension thereof.
The Tenant/Buyer shall notify the Landlord/Seller in writing of the exercise of this option
at least ten (10) days prior to the expiration of the initial term of this Lease/Option or the
expiration of any extension thereof, by mail to the last-provided address of
Landlord/Seller.
5. COVENANTS OF TENANT/BUYER: Commencing with and during the term of this
agreement, including extensions, the Tenant/Buyer hereby covenants and agrees as
follows:
a. That the Tenant/Buyer will pay all utility charges and bills, including, but not
limited to, water, sewer, gas, oil, and electric, which may be assessed or charged
against the property;
b. That the Tenant/Buyer will not use the property for any unlawful purpose; and
that the Tenant/Buyer will conform to and obey all laws, ordinances, rules,
regulations, requirements and orders of all Federal, Stale, and Local
governmental authorities, agencies, departments, bureaus, boards or officials,
respecting the use of the property; and
c. That the Tenant/Buyer will surrender and deliver up the property, at the end of
the term or any extensions thereof, should the option herein not be exercised, in
as good order and condition as the same now exists, reasonable use and natural
wear and tear excepted.
6. COVENANTS OF LANDLORD/SELLER: The Landlord/Seller hereby covenants and
agrees as follows:
a. That the Landlord/Seller shall pay for and maintain fire and extended coverage
insurance on said property in the minimum amount of $________. The
Tenant/Buyer shall be named as an additional insured or loss-payee on the
insurance policy and copy of which shall be provided to Tenant/Buyer.
Page 3 of 8
b. That the Tenant/Buyer shall peaceably and quietly hold, occupy, use and enjoy
the property, without any let, hindrance or molestation by Landlord/Seller or any
person associated therewith.
7. BREACH BY TENANT/BUYER: If the Tenant/Buyer shall fail to keep and perform any
of the covenants, agreements, or provisions of this Texas Lease/Option, or If the
Tenant/Buyer shall abandon the property; it shall be lawful for the Landlord/Seller to
enter into said property and again have, repossess, and enjoy the same as if this
Lease/Option had not been made, and thereupon this Lease/Option and everything
herein contained on the part of the Landlord/Seller to be done and performed shall
cease, determine and be utterly void, except as set forth in paragraph (8), below. The
commencement of a proceeding or suit in forcible entry and detainer or in ejectment, or
otherwise after any default by the Tenant/Buyer, shall be equivalent in every respect to
actual entry by the Landlord/Seller.
8. COSTS OF IMPROVEMENTS: In the event the Tenant/Buyer exercises the option to
purchase set forth in paragraph (4), above, and through no fault of the Tenant/Buyer,
the Landlord/Seller fails to convey said property to Tenant/Buyer In accordance with the
terms of this Texas Lease/Option, the Tenant/Buyer, in addition to any other rights
which Tenant/Buyer may have in law or equity for the enforcement of Tenant/Buyer's
option to purchase, shall be entitled to reimbursement for the cost of all repairs,
maintenance and improvements.
9. FURTHER ENCUMBRANCES: The Landlord/Seller hereby warrants that the total of the
leases, options, mortgages, liens, and any other encumbrances against the property,
whether of public record or not, are as follows:
A first mortgage in favor of in the approximate amount of $_________ .
Current taxes for _____ in the amount of $_____ due on ________________________.
a. The Landlord/Seller agrees not to lease to another third party, nor to assign, sell,
option, transfer, pledge or otherwise to convey any or all rights or interests had by
Landlord/Seller in the property or in this Texas Lease/Option agreement, nor to
further encumber the property nor allow the same to occur. All third parties are
hereby put on notice that any leases, assignments by the Landlord/Seller, liens,
options, mortgages or any other conveyances or transfers occurring subsequent to
Page 4 of 8
the date of this Lease/Option are hereby declared by the Landlord/Seller to be null
and void and of no force and effect. The Landlord/Seller further agrees to keep all
mortgages, liens, taxes or other encumbrances on the property, current and in
good standing. Tenant/Buyer shall have the right to make payments on same in
the event that Landlord/Seller becomes non-current or other-wise defaults thereon
and said payments will be deducted from any equity due seller or recovered from
future rent due seller.
b. Current taxes for ____ in the amount of $_____ due on __________________.
The Landlord/Seller agrees not to lease to another third party, nor to assign, sell,
option, transfer, pledge or otherwise to convey any or all rights or interests had by
Landlord/Seller in the property or in this Texas Lease/Option agreement, nor to
further encumber the property nor allow the same to occur. All third parties are
hereby put on notice that any leases, assignments by the Landlord/Seller, liens,
options, mortgages or any other conveyances or transfers occurring subsequent to
the date of this Lease/Option are hereby declared by the Landlord/Seller to be null
and void and of no force and effect. The Landlord/Seller further agrees to keep all
mortgages, liens, taxes or other encumbrances on the property, current and in
good standing. Tenant/Buyer shall have the right to make payments on same in
the event that Landlord/Seller becomes non-current or other-wise defaults thereon
and said payments will be deducted from any equity due seller or recovered from
future rent due seller.
10. RIGHT OF ASSIGNMENT: The Tenant/Buyer shall have the unqualified right to sublet
the property, and/or to assign, sell, transfer, pledge or otherwise convey any or all rights
or interests which the Tenant/Buyer may have in the property or in this Texas
Lease/Option Agreement. Any such assignment will release original Tenant/Buyer from
liability and substitute assignee in his/her or its place.
11. MAINTENANCE AND REPAIRS: The Tenant/Buyer accepts the property “as is" on the
date of execution of this Texas Lease/Option. The Tenant/Buyer shall henceforth be
responsible for all maintenance and repair upon said property, both interior and exterior.
The Tenant/Buyer shall have the right to make such repairs, maintenance, and
improvements as Tenant/Buyer shall deem necessary proper or desirable. The
Page 5 of 8
Tenant/Buyer shall be solely liable for payment for said improvements and shall hold the
Landlord/Seller nameless there from, except that any electric, plumbing, heating or
cooling system that is out of order or any repairs exceeding $ at the commencement
of this lease or within 30 days thereafter will be repaired by the landlord/Seller at his/her
expense. If the landlord/Seller cannot or will not make the repairs necessary the
Tenant/Buyer will have the option of either voiding this agreement by written notice to the
landlord/Seller or making such repairs and, a) receiving a reimbursement from the next
monthly payment or payments due the Landlord/Seller or, b) receiving a credit against
the purchase price plus interest at 10% per annum from date of payment.
12. BINDING AGREEMENTS: The parties hereto agree that this Texas Lease/Option
comprises the entire agreement of the parties and that no other representation or
agreements have been made or relied upon, and that this Lease/Option agreement shall
inure to the benefit of arid shall be binding upon the parties, their heirs, executors,
administrators, personal representatives, successors or assigns.
13. SPECIAL PROVISIONS:
a. The landlord/Seller will complete the following by ___________________ or this
Texas Lease/Option will become null and void and all monies disbursed by
Tenant/Buyer will be immediately refunded by Landlord/Seller or, at
Tenant/Buyers option, these items will be completed by Tenant/Buyer and the
cost of same will be recovered as provided for in paragraph (11) in which case
this lease will continue in force.
b. Other provisions
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
OPTION TO PURCHASE TERMS
14. PRICE AND TERMS: The Tenant/Buyer agrees to pay for said property the sum of
$________ less any sums for which the Tenant/Buyer is entitled to claim reimbursement
or offset in accordance with this agreement; the net sum to be paid in cash, certified
Page 6 of 8
check, or cashiers check at closing.
15. INCLUDED IN THE PURCHASE: The property shall also include all land, together with all
improvements thereon, all appurtenant rights, privileges, easements, buildings, fixtures,
heating, electrical, plumbing and air conditioning fixtures and facilities, window shades,
venetian blinds, awnings, curtain rods, screens, storm windows and doors, affixed
mirrors, wall to wall carpeting, stair carpeting, built in kitchen appliances, bath-room
fixtures, radio and television aerials, landscaping and shrubbery, water softeners, garage
door openers and operating devices, and all utility or storage buildings or sheds, range
and refrigerator. The property shall also include the following items:
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
16. TITLE: The Landlord/Seller shall convey marketable title to the property with the above
described inclusions, by good and sufficient General Warranty Deed in fee simple
absolute, on or before closing; said title to be free, clear, and unencumbered except
existing mortgages restrictions and easements of record shown in paragraph (9). Title to
be conveyed to the Tenant/Buyer and/or assigns.
17. CLOSING: The deed shall be delivered and the purchase money shall be paid at the
lending institutions, or other office, of Tenant/Buyer's choice, no later than sixty (60) days
after notification to the Landlord/Seller of the Tenant/Buyer's exercise of the option.
18. COSTS AND PRORATIONS: There shall be prorated between the landlord/Seller and the
Tenant/Buyer, as of date of closing, the following items: (a) All real estate taxes and
assessments; (b) Interest on encumbrances assumed or taken over by Tenant/Buyer
with the Tenant/Buyer having responsibility for such items as follows:
Page 7 of 8
Landlord/Seller will pay:
Tenant/Buyer will pay:
__________________________________
__________________________________
__________________________________
__________________________________
__________________________________
__________________________________
19. INSURANCE: While this option shall remain executory and up until the time of closing,
the Landlord/Seller shall maintain fire and extended coverage upon the property, and
immediately convert the owner occupied (if applicable) policy to a non-owner occupied
policy. In the event of loss or destruction in whole or in part of said property, the
Tenant/Buyer shall have the option to proceed with the closing and accept the insurance
proceeds for said damage, or to declare this Texas Lease/Option null and void,
releasing both parties from any obligations hereunder, except for the return of
reimbursable expenses previously paid by Tenant/Buyer which amounts shall become
immediately due and payable from the insurance proceeds. Upon closing, the
Tenant/Buyer shall be responsible for fire and extended coverage from that date
forward.
20. ATTORNEY’S FEES In the event this agreement is placed in the hands of an attorney
for enforcement the prevailing party shall be entitled to recover court costs and attorney
fees.
Landlord/Seller will pay:
Tenant/Buyer will pay:
__________________________________
__________________________________
__________________________________
__________________________________
_________________________________
_________________________________
_________________________________
_________________________________
21. REQUIRED DISCLOSURES
LEAD BASED PAINT. For homes built before 1978, Federal Law requires Landlords
give Tenant(s) a copy of an EPA-approved pamphlet on identifying and controlling lead-
based paint dangers.
SMOKE ALARMS. Subchapter F, Chapter 92, Property Code requires the Property to be
equipped with smoke alarms in certain locations. Requests for additional installation,
Page 8 of 8
inspection, or repair of smoke alarms must be in writing. Disconnecting or intentionally
damaging a smoke alarm or removing a battery without immediately replacing it with a
working battery may subject Tenant to civil penalties and liability for damages and
attorney fees under §92.2611, Property Code.
22. ADDITIONAL DISCLOSURES
______________________________________________________________________
______________________________________________________________________
IN WITNESS WHEREOF: the parties hereto, have set their hands to this Lease/Option
Agreement on this ____ day of __________ , 20___ .
LANDLORD SIGNATURE
PRINTED NAME
_______________________________
_______________________________
LANDLORD SIGNATURE
PRINTED NAME
_______________________________
_______________________________
TENANT SIGNATURE
PRINTED NAME
_______________________________
_______________________________
TENANT SIGNATURE
PRINTED NAME
_______________________________
_______________________________
AGENT SIGNATURE
PRINTED NAME
_______________________________
_______________________________
WITNESS SIGNATURE
PRINTED NAME
_______________________________
_______________________________
click to sign
signature
click to edit
click to sign
signature
click to edit
click to sign
signature
click to edit
click to sign
signature
click to edit
click to sign
signature
click to edit
click to sign
signature
click to edit
Download
Save PDF to desktop
Email
Email completed PDF
Send for Signing
Email for others to sign
Print
Print document
Choose a Field
Click on a field and
select the person that should complete it
Want to add a signature?
You can add a signature field
and assign it to someone else
to sign
Choose a Field
Click on a field and
select the person that should complete it

TEXAS LEASE TO OWN AGREEMENT

This document is locked as it has been sent for signing.

You have successfully completed this document.

Other parties need to complete fields in the document. You will recieve an email notification when the document has been completed by all parties.

This document has been signed by all parties.

Completed 13 August 2021

Message

View Audit Log
Print With Audit Log
Duplicate Document