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Lease Agreement For Sale Template for Ireland

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Key Requirements PROMPT example:

Lease Agreement For Sale

"I need a Lease Agreement For Sale for a commercial warehouse property in Dublin, with a 2-year lease period starting March 1, 2025, monthly rent of €5,000, and a purchase option of €750,000 to be exercised by the end of the lease term."

Document background
The Lease Agreement For Sale is a specialized legal instrument used in Irish property transactions where parties wish to combine a leasing arrangement with a future purchase agreement. This document is particularly useful in situations where immediate purchase is not feasible or desired, but there is a clear intention to transfer ownership after a specified leasing period. It provides security for both parties by establishing clear terms for both the lease period and the eventual sale, including purchase price, completion conditions, and timeline. The agreement is commonly used in both commercial and residential contexts, requiring compliance with Irish property law, including the Land and Conveyancing Law Reform Act 2009, Landlord and Tenant Acts, and relevant stamp duty legislation. It's particularly valuable for businesses seeking to test a location before commitment, or for buyers requiring time to arrange financing.
Suggested Sections

1. Parties: Identification of the lessor/seller and lessee/buyer, including full legal names and addresses

2. Background: Context of the agreement, including property details and intent to lease with option to purchase

3. Definitions: Defined terms used throughout the agreement, including property description, commencement date, purchase price, and completion date

4. Lease Terms: Duration of lease, rent amount, payment terms, and maintenance obligations

5. Property Use and Obligations: Permitted use of property, maintenance responsibilities, and insurance requirements

6. Sale Agreement: Terms of the purchase option, including purchase price, deposit requirements, and completion timeline

7. Purchase Process: Steps for exercising the purchase option and completion procedures

8. Title and Registration: Provisions regarding title transfer, registration requirements, and warranties

9. Costs and Taxes: Allocation of legal costs, stamp duty, and other transaction-related expenses

10. Default and Remedies: Consequences of default under either lease or purchase terms and available remedies

11. Notices: Process for serving formal notices between parties

12. Governing Law: Confirmation of Irish law as governing law and jurisdiction

13. Execution: Signature blocks and execution requirements

Optional Sections

1. Break Clause: Optional early termination provisions, included when parties want flexibility to end the lease before the purchase option

2. Rent Review: Include if the lease period is long enough to warrant rent adjustments before purchase

3. Environmental Provisions: Required for properties with potential environmental concerns or specific compliance requirements

4. Planning Permissions: Include when property requires specific planning permissions or has development potential

5. VAT Elections: Required when the transaction may be subject to VAT

6. Service Charge Provisions: Include for properties in multi-unit developments or with shared services

7. Guarantor Provisions: Include when additional security is required from a guarantor

8. Fit-out Works: Include when tenant will undertake improvements before purchase

Suggested Schedules

1. Property Description: Detailed description of the property including maps, plans, and boundaries

2. Rent Schedule: Breakdown of rent payments, including due dates and payment methods

3. Condition Report: Detailed inventory and condition of the property at lease commencement

4. Service Charges: Breakdown of service charges and maintenance costs if applicable

5. Permitted Alterations: List of allowed modifications or improvements to the property

6. Title Documents: Copies of relevant title documents and any encumbrances

7. Planning Documentation: Copies of relevant planning permissions and certificates

8. Purchase Price Calculation: Detailed breakdown of the purchase price and any adjustments

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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Relevant Industries

Commercial Real Estate

Residential Real Estate

Retail

Industrial

Office Space

Hospitality

Manufacturing

Warehousing

Professional Services

Healthcare

Relevant Teams

Legal

Real Estate

Finance

Operations

Compliance

Risk Management

Property Management

Business Development

Facilities Management

Corporate Services

Relevant Roles

Real Estate Manager

Property Lawyer

Commercial Director

Facilities Manager

Chief Financial Officer

Property Development Manager

Legal Counsel

Asset Manager

Operations Director

Risk Manager

Property Portfolio Manager

Acquisition Manager

Compliance Officer

Business Development Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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