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Lease/ Purchase

Lease/ Purchase

Postby convoy2 » Thu Jan 11, 2018 9:30 am

A Conditional agreement is drawn up with conditions to meet prior to a granting of a lease (with a long stop date), and once granted a option of purchase is built in after the lease commences and this specific. This condition to purchase is to the benefit of the tenant as it allows him to buy substantial less than the full term payments.

All conditions are for a new potential tenant to satisfy, which then allows the current tenant to vacate, and the new tenant to occupy.

By the long stop date none of the conditions have been completed.

The new potential tenant feels he has the right to waive all his conditions in the contract and either be granted a lease and or exercise his right to buy.

But
there is no provision for a intravenous lease and the option to buy condition can only be exercised on commencement of the lease which cant happen.

Besides all conditions the contract is subject to providing vacant possession which cannot be done.

I feel it is clear cut that but

Any input would be appreciated.

Thanks
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Re: Lease/ Purchase

Postby theycantdothat » Thu Jan 11, 2018 10:59 am

I am afraid that the information you have supplied is not sufficent to form an opinion. This is a case where an informed opinion can only be formed by someone who has seen the contract and been given all the facts.
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Re: Lease/ Purchase

Postby dls » Sun Jan 14, 2018 7:19 pm

This is very clearly a very particular contract. It is detailed and extensive and unusual. TCDT is right.
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