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The Lease Purchase Agreement Property is a specialized contractual arrangement used in Saudi Arabia when parties wish to combine property leasing with a future purchase option. This document type is particularly relevant in situations where potential buyers need time to arrange financing or prefer a gradual transition to property ownership. The agreement must strictly comply with Saudi Arabian real estate regulations and Sharia law principles, addressing both the temporary possession (lease) and eventual ownership transfer aspects. It typically includes detailed terms about property condition, maintenance responsibilities, payment structures, and purchase option exercise procedures. This document type has gained popularity in Saudi Arabia's real estate market as it provides flexibility for both property owners and potential buyers while ensuring legal protection for all parties involved.

1. Parties: Identification of the lessor/seller and lessee/purchaser with full legal names, addresses, and identification numbers

2. Background: Context of the agreement, including property overview and parties' intentions regarding the lease-purchase arrangement

3. Definitions and Interpretation: Definitions of key terms used in the agreement and rules for interpreting the document

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

5. Lease Terms: Lease period, rent amount, payment schedule, and maintenance responsibilities

6. Purchase Option: Terms and conditions for exercising the purchase option, including purchase price and credit for rent paid

7. Payment Terms: Detailed payment structure including rent, purchase price, deposits, and payment methods

8. Property Handover: Conditions and procedures for initial property handover and final transfer of ownership

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

10. Insurance and Risk: Requirements for property insurance and allocation of risks during lease and purchase phases

11. Default and Termination: Events of default, remedies, and termination procedures

12. Transfer of Ownership: Process and requirements for transferring property ownership upon exercise of purchase option

13. Representations and Warranties: Parties' declarations regarding their capacity, property condition, and other material facts

14. Governing Law and Jurisdiction: Application of Saudi law and jurisdiction for dispute resolution