Home
Forms Library
Option to Purchase Addendum to Residential Lease - Lease or Rent to Own - Wyoming

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

Option to Purchase Addendum to Residential Lease - Lease or Rent to Own - Wyoming Preview on Page 1

See details

4.3 out of 5

21 votes

The document is an Option to Purchase Addendum to a Residential Lease Agreement, outlining the terms under which the Lessee has the option to purchase the leased property at a specified price after a certain date. It includes provisions regarding notice for exercising the option, restrictions on assignment or transfer of the option, and binding agreements for heirs and assigns. The addendum emphasizes that it constitutes the entire agreement between Lessor and Lessee.

Here's how it works

01. Edit your form online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send it via email, link, or fax. You can also download it, export it or print it out.

How to use or fill out Option to Purchase Addendum to Residential Lease - Lease or Rent to Own - Wyoming

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Click ‘Get Form’ to open it in the editor.
Begin by entering the names of the Lessor and Lessee in the designated fields at the top of the document.
In the 'Grant of Lease' section, fill in the address of the leased property as described in your Residential Lease Agreement.
For the 'Option to Purchase' section, specify the date after which Lessee can exercise their option and enter the purchase price. Ensure you also indicate how many days notice must be given to Lessor.
Review and complete any additional sections regarding assignment or transfer rights, heirs and assigns, and ensure all parties understand that this document represents the entire agreement.
Finally, have both Lessor and Lessee sign and date at the bottom of the form to finalize your agreement.

Start using our platform today for free to streamline your document editing and signing process!

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What are the options at the end of a lease purchase agreement?

Unlike other similar types of finance product, the purchase side of the agreement is automatically activated; you cant simply hand the car back at the end of the term and swap it for another by entering into another contract. You may, however, refinance the balloon or sell the car and retain any capital.

Is an option a type of purchase agreement?

An option agreement is an agreement between a buyer and seller of a property where the buyer or seller (or sometimes both) grant each other options to buy or sell the property to each other. An option agreement will usually be a call option agreement or put and call option agreement.

Is Wyoming a landlord-friendly state?

Wyoming does not have statewide rent control laws. This means landlords are generally free to set and increase rent amounts as they see fit, provided they adhere to the lease agreement and give proper notice.

What is an option purchase agreement?

An Option Agreement is like a Purchase Agreement because it is between a buyer and a seller. and typically gives a buyer the exclusive right to a purchase a piece of property later if the. option is exercised.

What is the difference between an option and a contract?

An option gives the buyer the right, but not the obligation, to buy (or sell) an asset at a specific price at any time during the life of the contract. A futures contract obligates the buyer to purchase a specific asset, and the seller to sell and deliver that asset, at a specific future date.

Security and compliance

At DocHub, your data security is our priority. We follow HIPAA, SOC2, GDPR, and other standards, so you can work on your documents with confidence.

Learn more

What is an option to purchase in a lease?

An option to purchase is an agreement between parties that gives one party (the purchaser) the right to take up the option to purchase property, goods and/or land from the other party (the vendor) at any time within a specified period.

What is the difference between an option and a purchase agreement?

An Option Agreement gives time to the buyer to obtain funding to develop the property (and not just purchase it), obtain site control over the property, and conduct any due diligence. The buyer is not obligated to purchase the property until the option is exercised by the buyer.

What are the disadvantages of an option agreement?

The main disadvantage of option agreements for sellers is that there is no guarantee of sale, seeing as the buyer only has the option to buy. In addition, the property will not be put on the open market for third parties to make offers. Meaning that the landowner may receive considerably less from a developer.

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

Here's how it works