This detailed sample Seller's Temporary Residential Lease complies with Texas law. Adapt the language to fit your facts and circumstances. Available in Word and Rich Text formats.
A Plano Texas Seller's Temporary Residential Lease is a legal agreement between a homeowner in Plano, Texas, who is selling their property, and a tenant who agrees to rent the property for a short period of time. This type of lease is commonly used in real estate transactions when the homeowner needs to move out before the closing of the sale or during the transition period. The Plano Texas Seller's Temporary Residential Lease provides a formal arrangement that outlines the rights and obligations of both the seller/landlord and the tenant. It includes important terms and conditions, such as the duration of the lease, the monthly rent amount, security deposit, the responsibilities for repairs and maintenance, and any other specific provisions agreed upon by both parties. The purpose of this lease is to ensure a smooth transition for the seller and buyer while protecting the interests of both parties. It allows the seller to effectively vacate the property without losing income and provides the buyer with a secure place to reside during the transaction process. Some common types of Plano Texas Seller's Temporary Residential Leases include: 1. Pre-Closing Occupancy Lease: This type of lease allows the seller to remain in the property for a specific period before the closing, typically when they need additional time to finalize their move or settle in their new home. 2. Post-Closing Occupancy Lease: On the other hand, this lease allows the seller to continue occupying the property for a defined period after the closing has taken place. It can be useful when the seller needs extra time to find a new residence or complete certain tasks related to the move. 3. Extended Temporary Lease: In some cases, the seller and buyer may agree to a longer temporary lease, extending beyond the initial PRE or post-closing period. This can occur when there are construction or renovation plans for the new property or if the seller has not found a suitable alternative housing option yet. By utilizing a Plano Texas Seller's Temporary Residential Lease, both parties can ensure a smoother transition during the real estate transaction process. It is essential to consult with a real estate professional or attorney experienced in Texas real estate law to draft an enforceable agreement that meets the needs of both the seller and tenant.
