Description: This example of an agreement between a developer and a lease- purchaser is intended to illustrate how NSP grantees, subrecipients. A lease purchase agreement between a tenant and a landlord allows the renter the option to eventually buy the property.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. Adams Lease with Purchase Option Forms help you create a residential lease with or without a tenant option to purchase the property. "A lease option is a contract in which a landlord and tenant agree that, at the end of a specified period, the renter can buy the property at a specified price. Use the Lease Purchase Option to set forth all of the details of the transaction, including rent credits, purchase price, and time frame. A Texas rent-to-own lease agreement is a standard rental contract with an added option to purchase clause for the tenant. A lease option is an agreement that gives a renter a choice to purchase the rented property during or at the end of the rental period. Filling out this document requires attention to specific details.