eForms Logo

Alaska Rent-to-Own Lease Agreement

An Alaska rent-to-own lease agreement is a contract between a landlord and tenant for the renting of property with an option to purchase. The parties will create agreed-upon terms and, if the tenant decides to buy, will convert the lease to a purchase agreement. If the tenant doesn't buy, the lease will terminate in the same manner as a standard lease.
PDF
Word
ODT
4.3 Stars | 9 Ratings
Downloads: 74

Alaska Laws

  • Requirement to Record: There is no requirement for a buyer to record an option-to-purchase in Alabama. A contract for the sale of real estate can be recorded within the recording district where the property is located (See Recording Districts).[1][2]
  • Expiration: Constructive notice provided in an option-to-purchase ceases to be notice 30 days after the expiration date.[3]
  • No Duration: If an option-to-purchase does not have an expiration date, it ceases to be constructive notice 6 months after recording.[4]
  • Maximum Term: There is no maximum term for private option-to-purchase agreement, for public agreements, there is 40-year limit.[5]
  • Signing Requirements: If the option-to-purchase is going to be recorded, it must be acknowledged with a notary public.[6][7]

Leasing Disclosures (3)

1. 7+ Days Absence – Required language that mentions if the tenant is to be absent for more than seven days, the landlord must be notified.[8]

2. Identification (Notices) – A person must be authorized to receive notices or demands from the tenant in the lease.[9]

3. Lead-Based Paint Disclosure & EPA Pamphlet – For any residence built before January 1, 1978.[10]

Selling Disclosures (2)

1. Property Disclosure Statement (Form 08-4229) – The seller must provide the buyer with a disclosure of all property defects.[11] However, this can be waived if both buyer and seller agree in writing.[12]

2. Real Estate Commission Consumer Pamphlet (conditional) – If one of the parties is working with a licensed real estate agent, this must be given to the other party.[13]

Sample

Download: PDF, MS Word, ODT