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This Temporary Residential Lease can be used by a purchaser of property located in Kentucky who wishes to occupy the property prior to closing. Purchasers may need to lease property prior to closing when their existing leases have expired and they negotiate with the existing owner to establish short term tenancies. Temporary Residential Lease Agreements are for short-term leases up to 90 days. The seller becomes the landlord and the purchaser becomes the tenant in this transaction. This document contains the material terms of the agreement including the parties' names, a property description, rental amount and the term of the lease. It can be customized to fit the specific needs of the contracting parties.
Docstoc Legal Agreements This Temporary Residential Lease can be used by a purchaser of property located in Kentucky who wishes to occupy the property prior to closing. Purchasers may need to lease property prior to closing when their existing leases have expired and they negotiate with the existing owner to establish short term tenancies. Temporary Residential Lease Agreements are for short-term leases up to 90 days. The seller becomes the landlord and the purchaser becomes the tenant in this transaction. This document contains the material terms of the agreement including the parties' names, a property description, rental amount and the term of the lease. It can be customized to fit the specific needs of the contracting parties. ® DISCLAIMERS: ALL INFORMATION AND FORMS ARE PROVIDED “AS IS” WITHOUT ANY WARRANTY OF ANY KIND, EXPRESS, IMPLIED, OR OTHERWISE, INCLUDING AS TO THEIR LEGAL EFFECT AND COMPLETENESS. They are for general guidance and should be modified by you o r your attorney to meet your specific needs and the laws of your state. U se at your own risk. Docstoc, its employees or contractors who wrote or modified any form, are NOT providing legal or any other kind of advice and are not creating or entering into an Attorney -Client relationship. The information and forms are not a substitute for the advice of your own attorney. Use of this document and our service are deemed to be your acknowledgement and agreement to the following: The disclaimers and links on this page and the back page(s); our Terms of Service (http://www.docstoc.com/popterm.aspx?page_id=15), and read more here (http://www.docstoc.com/popterm.aspx?page_id=114) for additional disclaimers and more. You also agree that if you are not the person using the document and services that you will provide such person(s ) who will be with these front and back disclaimer pages. This document is not approved, endorsed by, or affiliated with any State, or governmental or licensing entity. Entire document copyright © Docstoc®, Inc., 2010 - 2013. All Rights Reserved NOTICE: For use only when Purchaser occupies the property for no more than 90 days PRIOR to closing. TEMPORARY RESIDENTIAL LEASE (OCCUPIED BY PURCHASER) STATE OF Kentucky COUNTY OF __________________________ 1. PARTIES. The parties to this lease are _____________________________ [Instruction: Insert the name of landlord], having place of residence at _____________________________ [Instruction: Insert the address of landlord] (hereinafter “Landlord”), and ________________________________ [Instruction: Insert the name of tenant], having place of residence at _____________________________ [Instruction: Insert the address of tenant] (hereinafter “Tenant”). Landlord and Tenant may individually be referred to as “Party” or collectively as the “Parties”. 2. LEASE. Landlord leases to Tenant the property described in the contract between Landlord as seller and Tenant as purchaser dated ____ [Month] ____ [Date], 20____, and known as ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ [Instruction: Insert the address of property]. 3. TERM. The term of this lease commences on ____ [Month] ____ [Date], 20____ [Instruction: Insert the commencement term of the lease] and terminates as specified in Paragraph 18. 4. RENTAL. Rental will be ________ ($___) per day [Instruction: Insert the rent by researching local rental market, e.g., fifty dollars ($50)]. Upon commencement of this lease, Tenant shall pay to Landlord the full amount of rental of ________ ($___) [Instruction: Insert the full rental amount, e.g., one thousand dollars ($1,000)] per day for the anticipated term of the lease (commencement date to the closing date specified in Paragraph 18a of the contract). If the actual term of this lease differs from the anticipated term, rent will be prorated and paid at closing through the actual closing date. No portion of the rental will be applied to payment of any items covered by the contract. 5. SECURITY DEPOSIT. © Copyright 2011 Docstoc Inc. registered document proprietary, copy not 2 1. Tenant has paid to Landlord ________ ($___) [Instruction: Insert the security deposit, e.g., five hundred dollars ($500)] as a deposit to secure performance of this lease by Tenant. If this lease is terminated before the closing, Landlord may use the deposit to satisfy Tenant's obligations under this lease. Landlord shall refund to Tenant any unused portion of the deposit together with an itemized list of all deductions from the deposit within Twenty (20) days as per Section 14, Title 25- Landlord and Tenant, Chapter 55, of Kentucky Code, after Tenant: a. surrenders possession of the property; and b. Provides Landlord written notice of Tenant’s forwarding address. NOTICE: The security deposit must be in addition to the earnest money under the contract. 6. UTILITIES. Tenant shall pay all utility connections, deposits and charges except ___________________________________________________________________________ ___________________________________________________________________________ [Instruction: Insert the utility charges payable by Landlord], which Landlord shall pay. 7. USE OF PROPERTY. Tenant may use the Property only for single-family dwelling purposes. Tenant may not assign this lease or sublet any part of the property. 8. PETS. [Instruction: Choose any one option] Tenant shall be entitled to keep no more than ___________ (___) [[Instruction: Insert the number of pets allowed, e.g., two (2)] domestic dogs, cats or birds. [Instruction: Choose this clause if tenant is entitled to keep pets in the premises] Or Tenant agrees that no animals, birds, or other pets of any kind whatsoever shall be brought on the premises without the prior written consent of the Landlord. [Instruction: Choose this clause if tenant is not entitled to keep any pets in the premises] 9. CONDITION OF PROPERTY. Tenant accepts the property in its present condition and state of repair, but Landlord shall make all repairs and improvements required by the contract. If this Lease is terminated prior to closing, Tenant shall surrender possession of the property to Landlord in its present condition, as improved by Landlord, except normal wear and tear and any casualty loss. © Copyright 2011 Docstoc Inc. registered document proprietary, copy not 3 10. ALTERATIONS. Tenant may not: a. make any holes or drive nails into the woodwork, floors, walls or ceilings; b. alter, paint or decorate the property; or c. install improvements or fixtures without the prior written consent of Landlord. Any improvements or fixtures placed on the property during the lease become a part of the property. 11. SPECIAL PROVISIONS. (Optional) ___________________________________________________________________________ ___________________________________________________________________________ [Comment: Choose this clause if the Parties want to add any special provisions regarding this Lease] 12. INSPECTIONS. Landlord may enter at reasonable times to inspect, replace, repair or complete the improvements. 13. LAWS. Tenant shall comply with all applicable laws, restrictions, ordinances, rules and regulations with respect to the property. 14. REPAIRS AND MAINTENANCE. Tenant shall bear all expense of repairing and maintaining the property, including but not limited to the yard, trees and shrubs, unless otherwise required by state law. Tenant shall promptly repair at Tenant's expense any damage to the property caused directly or indirectly by any act or omission of the Tenant or any person other than Landlord, Landlord's agents or invitees. 15. INDEMNITY. Tenant indemnifies Landlord from the claims of all third parties for injury or damage to the person or property of such third party arising from the use or occupancy of the property by Tenant. This indemnification includes attorney's fees, costs and expenses incurred by Landlord. 16. INSURANCE. Landlord and Tenant shall each maintain such insurance on the contents and property as each Party may deem appropriate during the term of this lease. [Comment: Consult Your © Copyright 2011 Docstoc Inc. registered document proprietary, copy not 4 Insurance Agent Prior to Closing]. Possession of the property by purchaser as Tenant may change insurance policy coverage. 17. DEFAULT. If Tenant fails to perform or observe any provision of this lease and fails, within ____________ hours [◊ Instruction: Insert number of hours required by Tenant to fulfill obligation of Landlord, e.g., twenty four (24)] after notice by Landlord, to commence and diligently pursue to remedy such failure, Tenant will be in default. 18. TERMINATION. This lease terminates upon: a. closing of the sale under the contract; b. termination of the contract prior to closing; c. Tenant’s default under this lease; or d. Tenant’s default under the contract, whichever occurs first. Upon termination other than by closing of the sale, Tenant shall surrender possession of the property. 19. HOLDING OVER. Any possession by Tenant after termination creates a tenancy at sufferance and will not operate to renew or extend this lease. Tenant shall pay per day during the period of any possession after termination as damages, in addition to any other remedies to which Landlord is entitled. 20. ATTORNEY’S FEES. The prevailing Party in any legal proceeding brought under or with respect to the transaction described in this lease is entitled to recover from the non-prevailing Party all costs of such proceeding and reasonable attorney's fees. 21. SMOKE DETECTORS. State law may require Landlord to install smoke detectors in certain locations within the property at Landlord’s expense. Tenant expressly waives Landlord’s duties, if any, to inspect and repair smoke detectors. 22. SECURITY DEVICES. State law may impose on Landlord certain duties related to security devices at Landlord’s expense. In some states, such obligations do not apply to leases with a term of 90 days or less. Tenant expressly waives Landlord’s duties, if any, related to security devices. © Copyright 2011 Docstoc Inc. registered document proprietary, copy not 5 23. NOTICES. Except as otherwise provided herein, all notices and approvals hereunder shall be in writing and, except as each Party may change its address pursuant hereto, addressed to the Parties as follows: To Landlord: Name ______________________________ Address ______________________________ ______________________________ ______________________________ To Tenant: Name ______________________________ Address ______________________________ ______________________________ ______________________________ 24. GOVERNING LAW. This agreement shall be construed and governed according to the laws of state of Kentucky. EXECUTED the ____ [Month] ____ [Date], 20____. ______________________________ __________________________________ [Instruction: Insert the signature of Landlord] [Instruction: Insert the signature of Tenant] ________________________________ __________________________________ [Instruction: Insert the address of Landlord] [Instruction: Insert the address of Tenant] © Copyright 2011 Docstoc Inc. registered document proprietary, copy not 6
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