Notice to Lessor Exercising Option to Purchase - Arkansas 2026

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  1. Click ‘Get Form’ to open it in the editor.
  2. Begin by entering the name and address of the Lessor in the designated fields at the top of the form.
  3. Fill in the date of your Lease Agreement with Option to Purchase, ensuring accuracy for legal purposes.
  4. Specify the address of the premises you intend to purchase in the provided space.
  5. Indicate the purchase price as stated in your Lease Agreement or Option Agreement. This is crucial for clarity.
  6. If required, include any down payment amount in the corresponding field, ensuring you have documentation ready if necessary.
  7. Sign and date the document at the bottom, then print your name clearly beneath your signature.

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Act 1052 impacts rental agreements by ensuring certain tenant protections. While it focuses on general tenant rights, including maintenance obligations, subleasing agreements must comply with these standards as well.
For non-payment of rent, this notice must give the tenant at least three days to vacate. For all other lease violations, the notice period should be at least 14 days. For termination of a month-to-month lease (absent some other lease violation), the notice period must be at least one month.
Understanding the 3 Months Notice Period for Tenants If the lease does not specify a notice period, the CPAs standard of 20 business days applies. It is always advisable for tenants to provide as much notice as possible to avoid disputes and give the landlord sufficient time to find a replacement tenant.
The notice period will depend on the tenancy or agreement, but its usually at least 4 weeks.
The landlord must file a case in circuit court to get a court order to evict the tenant. Tenants may qualify for free legal aid from the Center for Arkansas Legal Services or Legal Aid of Arkansas. See the Interactive Form regarding Answer and Objection for Unlawful Detainer at the bottom of this guide.
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The landlord must give one rental periods notice for an oral lease, or provide notice according to the terms of a written lease.
Typically, a tenant is required to give written notice of their exercise of the option several months before the current term of the lease expires typically a period of time ending three to six months before expiration of the current term of occupancy.

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