Nevada Lease Agreement with Option to Purchase Form

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The Nevada lease with an option to purchase is a legal document that would be completed between tenant(s) and landlord(s) when the landlord is interested in selling a property and a tenant may be interested in purchasing the property at a later date.

This document, with completion by the landlord, will create a complete, legal agreement between the parties, that will provide both a lease agreement and an agreement to allow the tenant the time to prepare to purchase the property within an agreed time frame, usually six months to one year. It will provide all of the the information for both parties, a full lease agreement and shall create a deadline for the tenant(s) to provide written notification to the landlord, of their intention to purchase the leased property.

The tenant should carefully review the document before signing the document, to ensure that they understand the language contained within the document. Should the tenant(s) find they are uncertain, they should consult with a knowledgeable attorney for clarification and assistance if further assistance is needed. One witness is required to be present to witness all signatures applied to the document.

How to Write

Step 1 – The Parties – Submit the following:

  • A date that the agreement shall commence (mm/dd/yyyy)
  • The name of the landlord/seller
  • The buyer/tenant’s name(s)

Step 2 – The Property – Enter:

  • The name of the county where the property is located
  • The name of the city of location
  • The property’s street address

Step 3 – Rent – Submit:

  • The annual rental amount
  • An amount of the monthly rental installment
  • The due date of the monthly installment each month
  • A required security deposit amount(to be returned if/when the property is vacated and inspected)

Step 4 – Utilities and Services –

  • The landlord must describe the utilities that the tenant(s) will be responsible to pay
  • The landlord must describe the utility expenses that the landlord is willing to furnish (if any)
  • Read the remainder of this section

Step 5 – Titled Sections – The parties must read and agree to all of the Titles. Enter all other required information contained within the listed titles, as follows:

Tenant Further Agrees –

  • The tenant(s) shall review and agree to this section and their respective subsections (a through g)

Option Term –

  • The landlord must submit a purchase option commencement date, -mm/dd/yyyy
  • Submit an expiration date – mm/dd/yyyy

Notice Required to Exercise Option –

  • Review the information at the beginning of this section

Option Consideration –

  • Landlord must enter the required dollar amount to be used as a non-refundable deposit that shall be acknowledged by the landlord in the form of a written receipt
  • Landlord and tenant(s) must read and agree to the entire section, including the non-refundable deposit

Purchase Price –

  • The landlord must enter an agreed price for purchase
  • The landlord must enter an amount that the landlord will credit toward (and shall be deducted from) from the monthly rental to the purchase price of the property, upon closing)
  • AND
  • Exclusivity of Option
  • Closing and Settlement
  • Financing Availability – (seller/landlord will not promise any type of financing)
  • Financing Disclaimer
  • Remedies Upon Default
  • Commission
  • Recording of Agreement
  • Acknowledgements
  • Timing
  • Governing Law and Venue
  • Option to Purchase Controlling
  • Entire Agreement

Step 6 – Signatures –

  • Upon completion by the the landlord and and agreement among both parties the– Provide the following:
  • The Seller/Landlord’s Signature(s)
  • The Seller/Landlord’s printed name(s)
  • AND
  • The Buyer/Tenant’s Signature(s)
  • Buyer/Tenant’s printed name(s)
  • AND
  • Agent’s Signature
  • Agent’s printed name
  • AND
  • The signature of one (1) witness
  • Witness’ printed name