Option to Purchase Addendum to Residential Lease - Lease or Rent to Own - Arkansas 2026

1. Click ‘Get Form’ to open it in the editor.
2. Begin by entering the names of the Lessor and Lessee in the designated fields at the top of the form. Ensure accuracy as these names will be referenced throughout the document.
3. In the 'Grant of Lease' section, fill in the address of the leased property along with the date when the original Residential Lease Agreement was signed.
4. Next, navigate to the 'Option to Purchase' section. Specify the purchase price and indicate the date after which Lessee can exercise their option. Also, note how many days' notice must be given to Lessor.
5. Complete the 'Assignment or Transfer' section by acknowledging that Lessee cannot transfer this option without Lessor's consent.
6. Finally, ensure all parties sign and date at the bottom of the form. This finalizes your agreement and makes it legally binding.

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