Lease-purchases may provide that once a sufficient down payment is paid, the tenant-buyer will have an option to purchase the property at a certain price. THIS AGREEMENT (hereinafter referred to as the "Texas Lease Agreement") is made and entered into this ____ day of.Description: This example of an agreement between a developer and a lease- purchaser is intended to illustrate how NSP grantees, subrecipients. Lease options in Texas give the buyer the option of purchasing the property, but it has no terms concerning how the complete payment will be made. A lease purchase agreement between a tenant and a landlord allows the renter the option to eventually buy the property. A Texas rent-to-own lease agreement is a standard rental contract with an added option to purchase clause for the tenant. This article answers some questions about purchasing a home through a longterm executory contract instead of taking out a mortgage. Topurchase agreement in Texas is a great way to buy property if you don't have the funds or credit to do it outright. Landlord is not obligated to prorate rent even if Tenant surrenders the Property before the termination date. Not be locked out of their apartment; Have a landlord "mitigate damages" if the tenant moves out early; Have a trial in the event of a dispute.