Notice to Lessor Exercising Option to Purchase - Indiana 2026

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  1. Click ‘Get Form’ to open it in the editor.
  2. Begin by entering the Lessor's name and address in the designated fields at the top of the form.
  3. In the section regarding the Lease Agreement, fill in the date of your agreement and the address of the premises you wish to purchase.
  4. Specify the purchase price as outlined in your Lease Agreement or Option Agreement. Ensure this amount is accurate and reflects your understanding.
  5. If a down payment is required, enter that amount in the provided space. Attach any necessary documentation if prompted.
  6. Finally, sign and date the document at the bottom. Print your name clearly beneath your signature for verification.

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If youre a tenant, youre under no obligation to purchase. But if you fall in love with the property and youre in a position to buy, you wont have to compete with other buyers to make it yours. Mail a Notice of Exercise of Option to Purchase to your landlord and start negotiating.
What is the 45-day letter rule in Indiana? The 45-day letter rule in Indiana requires landlords to either return the security deposit or send a written itemized statement of any deductions taken from the deposit within 45 days after a tenant vacates the property.
The option to purchase is binding on the landlords successors who may purchase the property during the term of the lease. Similarly, if the landlord dies during the lease term, the option is enforceable against the landlords estate.
A tenancy deposit cannot usually be more than 5 weeks rent.
Termination Letter: Employers must provide a written termination letter that outlines the terminations reason, effective date, and details regarding final compensation, benefits, or severance pay.

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Cons of lease options as a buyer Thus, you may be paying over market price for your rental as a tenant. Additionally, you stand to lose any money put toward the purchase price if you decide to pull out of the deal.

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