Real Estate Lease Buyout Program
Real Estate Lease Buyout Program
Agreement Date: [Month, Day, Year]
Effective Date of Termination: [Month, Day, Year]
1. Parties Involved
This agreement ("Agreement") is entered into on [Month, Day, Year]
between:
[Your Company Name]
Address: [Your Company Address]
Email: [Your Company Email]
Phone: [Your Company Number]
Website: [Your Company Website]
Social Media: [Your Company Social Media]
And
[Tenant's Name]
Property Address: [543 Property Address]
2. Terms and Conditions
2.1 Lump Sum Payment: In consideration of the termination of the lease agreement dated [Month, Day, Year] between the Parties, Tenant agrees to pay [Your Company Name] a lump sum of $[0] as a buyout fee. This payment shall constitute full and final settlement of any and all obligations under the lease agreement.
2.2 Payment Schedule: The buyout fee shall be paid in full by [Month, Day, Year], unless otherwise agreed upon in writing by both Parties. Failure to make the payment by the specified date may result in additional penalties as outlined in Section 4.
2.3 Release of Obligations: Upon receipt of the buyout fee, [Your Company Name] agrees to release Tenant from all further obligations under the lease agreement, effective as of the termination date specified in Section 3.
3. Lease Termination Date
The lease agreement between the Parties shall be terminated on [Month, Day, Year], upon receipt of the buyout fee by [Your Company Name].
4. Penalties for Non-Compliance
If Tenant fails to make the payment by the specified date, Tenant shall be responsible for any additional costs incurred by [Your Company Name], including but not limited to legal fees and court costs associated with enforcing the terms of this Agreement.
5. Property Description
The leased property subject to this buyout agreement is described as follows:
5.1 Property Address: [543Property Address]
5.2 Unit Number (if applicable): [000]
5.3 Additional Property Description:
-
Type of Property: [Residential]
-
Square Footage: [Square Footage]
-
Number of Bedrooms/Bathrooms (if applicable): [3 Bedrooms/3 Bathrooms]
-
Features: [kitchen appliances, HVAC system, parking spaces, amenities]
-
Condition of Property: [well-maintained, recently renovated, any notable damages or defects]
-
Special Terms: [any specific terms related to the property unique to the lease agreement, such as use restrictions, maintenance responsibilities, or included utilities]
6. Security Deposit and Refunds
If Tenant has provided a security deposit pursuant to the lease agreement, [Your Company Name] shall apply the security deposit towards the buyout fee. Any remaining balance shall be refunded to Tenant within [0] days of the termination date specified in Section 3.
7. Governing Law and Jurisdiction
This Agreement shall be governed by and construed in accordance with the laws of the State of [California], without regard to its conflict of laws principles. Any disputes arising under or in connection with this Agreement shall be subject to the exclusive jurisdiction of the courts of [County], [California].
8. Signatures
This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. This Agreement may be executed and delivered by facsimile or electronic transmission and a facsimile or electronic signature shall be deemed an original for all purposes.
[Your Company Name]
By:
[Manager]
[Month, Day, Year]
[Tenant's Name]
By:
[Month, Day, Year]
