Posted by JohnBoy on March 31, 2002 at 01:47:18:
Carleton’s L/O contract is combined as one contract.
If you are buying on a L/O then using a contract that combines the lease and the option together within the same contract is OK.
But when you are the seller selling on a L/O you want to use separate contracts. You want to use a separate lease agreement and a separate option agreement. The lease agreement should not state anything about the option agreement.
For good L/O agreements check out Bill Bronchick’s contracts. He use to have samples you can get off his web site, but I don’t know if he still has them there for free or not. If not he may offer just the L/O agreements for a small fee that you can download from his site. You will have to check it out and see for sure.
His site is www.legalwiz.com and when you go there click on the “Legal Forms” link and see if they’re still available.
Otherwise you can check out his L/O course at: