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How to use or fill out Option to Purchase Addendum to Residential Lease - Lease or Rent to Own - Missouri
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Click ‘Get Form’ to open it in the editor.
Begin by entering the names of both parties in the designated fields for 'Lessor' and 'Lessee'. Ensure that all names are spelled correctly for legal accuracy.
In the 'Grant of Lease' section, fill in the address of the leased property as described in your Residential Lease Agreement. This ensures clarity on what property is being discussed.
Next, specify the date after which the Lessee can exercise their option to purchase. This is crucial for establishing a timeline for potential purchase.
Indicate the purchase price in cash that will be payable at closing. Make sure this amount is agreed upon by both parties.
Complete any additional fields regarding notice periods and contract execution timelines as specified in the form.
Finally, ensure all parties sign and date the document at the bottom to validate the agreement.
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The Lessor grants to the Lessee the option to extend the Lease for three (3) 2 month periods following the final renewal period at the same rental rate as paid
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