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Document Id : 5032
File Type : Microsoft Word
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Maryland Residential Lease Agreement with Option to Purchase
Maryland landlords, give your tenant an option to purchase their rental property with this Residential Lease Agreement with an Option to Purchase.
- The lease is for a fixed term, which should be no less than 2 years. THIS IS NOT A CONTRACT TO BUY.
- A portion of the monthly rent will be applied towards the purchase price, after a specified number of months in the lease term have been completed.
- Fair market value of the property will be mutually determined by the parties.
- The purchase option is null and void if the tenant breaches the lease.
- The tenant may exercise the option before the exercise date if he/she has the funds to complete the purchase.
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