Description: This example of an agreement between a developer and a lease- purchaser is intended to illustrate how NSP grantees, subrecipients. An experienced real estate attorney will be able to help you determine whether or not the purchase option in your lease was assignable.This interactive legal form creates a standard lease for a residential property, with provisions for the tenants to exercise an option to buy the property. Similar to living in the local community, you will sign a tenant lease agreement, typically for a one-year term. Facilitate lease-to-purchase agreements in New York with our customizable template. Ensure legal compliance and secure your property with confidence. Ever wonder what all the words mean in listing descriptions or real estate websites? Here is a handy guide. In a lease-purchase option, the buyer is required to buy the home at the end of the rental period. Example of a Lease-to-Own Option.