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The Lease Agreement Sale Of Property is a specialized legal instrument used in the Philippines when parties wish to combine a property lease with a future purchase option. This document is particularly useful in situations where immediate purchase isn't feasible or desired, but there's an intention for eventual ownership transfer. It's commonly used in both residential and commercial property transactions, providing flexibility while ensuring legal compliance with Philippine property laws, including the Civil Code and relevant real estate regulations. The agreement includes comprehensive details about the property, lease terms, purchase conditions, payment schedules, and obligations of both parties. It's especially relevant in urban development contexts and for property developers offering rent-to-own schemes, requiring careful consideration of both lease and sale aspects to protect all parties' interests.

1. Parties: Identification of the Lessor-Seller and Lessee-Buyer, including complete legal names, addresses, and tax identification numbers

2. Background: Context of the agreement, including the property ownership status and the parties' intention to enter into a lease with option to purchase arrangement

3. Definitions: Definitions of key terms used throughout the agreement, including Property, Lease Period, Purchase Price, and other relevant terms

4. Property Description: Detailed description of the property including exact location, boundaries, and title details

5. Lease Terms: Terms of the lease including duration, rental amount, payment schedule, and maintenance responsibilities

6. Purchase Terms: Details of the purchase agreement including purchase price, payment terms, and conditions for exercise of purchase option

7. Rental Payments: Specific provisions regarding rental payments, including amount, due dates, and payment methods

8. Security Deposit: Terms regarding the security deposit, including amount, holding conditions, and return provisions

9. Maintenance and Repairs: Responsibilities of each party regarding property maintenance and repairs during the lease period

10. Exercise of Purchase Option: Process and conditions for exercising the purchase option, including notice requirements and deadlines

11. Title Transfer: Procedures and requirements for the eventual transfer of property title

12. Representations and Warranties: Legal declarations and guarantees made by both parties

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

14. Governing Law: Specification of Philippine law as governing law and relevant jurisdictional provisions

15. Execution: Signature blocks and notarization requirements