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 Lease to Purchase Option Agreement ("Option to Purchase Agreement") is made on."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. Learn everything about lease options in Texas, including legal requirements, risks, and how to navigate these complex agreements. 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. 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. These agreements allow a potential buyer to occupy the seller's property for a period of time before completing the sale. Can an inactive license holder negotiate the purchase, sale, or lease of real property between third parties?