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The Residential Lease Purchase Agreement is a specialized contract used in the United Arab Emirates real estate market that provides a pathway to property ownership through an initial lease period. This hybrid agreement is particularly suitable for buyers who want to secure a property but need time to arrange financing or prefer a gradual transition to ownership. The document must comply with UAE federal laws and emirate-specific regulations, particularly in Dubai where the Real Estate Regulatory Agency (RERA) and Dubai Land Department oversight is required. It includes comprehensive terms covering both the lease period and the purchase option, including rental payments, purchase price, option exercise period, and credit of rental payments toward the purchase price. This type of agreement has gained popularity in the UAE market as it offers flexibility to both property owners and potential buyers while ensuring legal compliance with local property laws.

1. Parties: Identification of lessor/seller and lessee/buyer with full legal names and details as required by UAE law

2. Background: Context of the agreement including property details and intention to enter into a lease-purchase arrangement

3. Definitions: Key terms used throughout the agreement including technical and legal terminology

4. Property Description: Detailed description of the property including emirate, location, size, and registration details

5. Lease Terms: Duration of lease period, rental payments, and maintenance responsibilities

6. Purchase Option Terms: Conditions for exercising the purchase option, including timing and notice requirements

7. Purchase Price and Payment: Total purchase price, credit for rental payments, and payment structure

8. Title and Ownership: Warranties of title and conditions for transfer of ownership

9. Maintenance and Repairs: Responsibilities for property maintenance during the lease period

10. Insurance Requirements: Required insurance coverage during lease and purchase phases

11. Default and Remedies: Consequences of default by either party and available remedies

12. Termination: Conditions and procedures for termination of the agreement

13. Governing Law and Jurisdiction: Specification of UAE law application and jurisdiction

14. Notices: Methods and addresses for official communications between parties

15. Entire Agreement: Integration clause confirming the complete agreement between parties