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Lease Purchase Agreement 3

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Lease Purchase Agreement 3
Lease Purchase Agreement 3
Example of a Residential Lease
with Option to Purchase
About this Tool
This example of an agreement between a developer and a lease-
purchaser is intended to illustrate how NSP grantees, subrecipients
and developers are using lease-purchase programs. It is intended
to be used with the following companion documents: “Sample
Residential Lease with Option to Purchase, Annotated” and its
attachments: “Move in Notice (Guideform Notice to Prospective
Tenant),” “Lease-Purchaser Guide,” and “Maintenance Checklist,”
“Sample Lease-Purchase Policies and Procedures Manual,”
“Sample Lease-Purchase Developer Agreement,” “Sample Lease-
Purchase Financial Pro Forma,” and “Guidance on Lease
Purchase Qualification Criteria.”
How to Adapt this Document:
This document provides an example of a residential lease with an
option to purchase, and is not intended to be used as-is. NSP
grantees should determine if the underlying program design is
suitable for their own circumstances. For further guidance, NSP
grantees should consult the series of sample NSP Toolkit
documents that are listed above.
Source of Document:
This document was developed by Colorado Rural Housing
Development Corporation.
This document is not an official HUD document and has not been
reviewed by HUD counsel. It is provided for informational purposes
only. Any binding agreement should be reviewed by attorneys for
the parties to the agreement and must conform to state and local
This resource is part of the NSP Toolkits. Additional toolkit
resources may be found at www.hud.gov/nspta
U.S. Department of Housing and Urban Development
Neighborhood Stabilization Program
Lease Purchase Agreement 3