A lease purchase agreement between a tenant and a landlord allows the renter the option to eventually buy the property. Must get an attorney to form the master lease agreement.THIS MASTER EQUIPMENT LEASE-PURCHASE AGREEMENT (this "Master Agreement") is made as of. Description: This example of an agreement between a developer and a lease- purchaser is intended to illustrate how NSP grantees, subrecipients. Applicant is provided with an application form to complete and return to HCCLT staff.