Temporary Residential Lease - Occupied by Seller

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									Seller Occupied Lease
Agreement
This agreement is between a seller and buyer of property whereby the buyer agrees to
allow the seller to lease the property on a short-term basis. Certain situations may
require a seller to lease the property they are selling, such as delays in construction. For
this agreement to be valid, the length of the lease must be less than 90 days. Simply
enter your information in the yellow highlighted fields, delete the bolded instructions, and
you will have a customized lease agreement that will protect both parties’ interests.
 NOTICE: For use only when Seller occupies the property for no more than 90 days after the
                                                     closing.

                        LEASE AGREEMENT (OCCUPIED BY SELLER)

STATE OF _________________

COUNTY OF ___________________

This Temporary Residential Lease (Occupied by Seller) (hereinafter termed as the “Lease”) is
made       on       ____         [Month]        ____        [Date],        20____by        and       between
_____________________________ [Instruction: Insert the name of purchaser] having place
of residence at _____________________________ [Instruction: Insert the address of
purchaser] (hereinafter termed as the “Landlord”) and ________________________________
[Instruction:     Insert        the   name      of      seller]   having     place    of     residence    at
_____________________________ [Instruction: Insert the address of seller] (hereinafter
termed as the “Tenant”). Landlord and Tenant may individually be referred to as the “Party” and
collectively be referred to as the “Parties”.

WHEREAS Landlord hereby Leases to Tenant the Property described in the Contract between
Landlord as “Purchaser” and Tenant as “Seller’ dated ____ [Month] ____ [Date],
20____attached hereto as Exhibit A and made a part hereof, all of which is hereinafter referred
to as the “Property”;

WHEREAS, Tenant is desirous of leasing the Premises from Landlord.

NOW THEREFORE the Parties agreed upon the following terms and conditions:

1. Term: The term of this Lease shall commence on the date the sale covered by the Contract is
    closed and terminates ____ [Month] ____ [Date], 20____unless terminated earlier by reason
    of other provisions.
2. Rental: In consideration for Leasing of the Property Tenant shall pay to Landlord as rental
    ________ ($___) [Instruction: Insert the rent by researching local rental market E.g.,
    One hundred dollars ($100.00)] per day with the full amount of rental for the term of the
    Lease to be paid at the time of funding of the sale. Tenant will not be entitled to a refund of



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    rental if this Lease terminates early due to Tenant’s default or voluntary surrender of the
    Property.
3. Security Deposit: Tenant shall pay to Landlord at the time of funding of the sale as a deposit
    of Landlord ________ ($___) [Instruction: Insert the security deposit E.g., Fifty dollars
    only ($ 50)] to secure performance of this Lease by Tenant. Landlord may use the deposit to
    satisfy Tenant's obligations under this Lease. Landlord shall refund any unused portion of the
    deposit to Tenant with an itemized list of all deductions from the deposit within Twenty one
    (21) days as per Section 21, Action In Particular Cases, Chapter 3- Landlord and Tenant Act,
    of _________________ Code, after Tenant:
            a. surrenders possession of the Property; and
            b. Provides Landlord written notice of Tenant’s forwarding address.


4. Utilities: Tenant shall pay all utility connections, deposits and charges except
    ___________________________________________________________________________
    ___________________________________________________________________________
    [Instruction: Insert the utility charges payable by Landlord] which Landlord shall pay.
5. 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.
6. Pets:        Tenant    shall   not      keep   any    pets    on    the    Property     except
    ___________________________________________________________________________
    [Instruction: Insert the type of pet which can be kept by Tenant].
7. Property Conditions: Tenant accepts the Property in its present condition and state of repair
    at the commencement of the Lease. Upon termination, Tenant shall surrender the Property to
    Landlord in the condition required under the Contract at the time of closing, except normal
    wear and tear and any casualty loss.
8. Property Alteration: Tenant may not alter the Property or install improvements or fixtures
    without the prior written consent of Landlord. Any improvements or fixtures placed on the
    Property during the Lease become the property of Landlord.
9. Inspections: Landlord may enter at reasonable times to inspect, replace, repair or complete
    the improvements.
10. Special Provisions: (Optional)



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    ___________________________________________________________________________
    ______________________________________________________________________

    [Comment: Choose this clause if the parties want to add any special provisions
    regarding this Lease]

11. Laws: Tenant shall comply with all applicable laws, restrictions, ordinances, rules and
    regulations with respect to the Property.
12. Repairs and Maintenance: Tenant shall incur all expenses of repairing and maintaining the
    Property, including, but not limited to, 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.
13. 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.
14. Insurance: Each party shall maintain such insurance on the contents and Property as each
    party may deem appropriate during the term of this Lease. Possession of the Property by
    Purchaser as Tenant may change insurance policy coverage.
15. 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.
16. Termination: This Lease terminates upon expiration of the term specified in Paragraph 1 or
    upon Tenant's default under this Lease.
17. Holding Over: Tenant shall surrender possession of the Property upon termination of this
    Lease. 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.




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18. 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.
19. 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.
20. 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.
21. Notices and Approvals: 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             ______________________________

                        ______________________________

22. GOVERNING LAW: This agreement shall be construed and governed according to the
    laws of State of _________________.

EXECUTED the ____ [Month] ____ [Date], 20____.




    ______________________________                    __________________________________


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[Instruction: Insert the signature of Landlord] [Instruction: Insert the signature of Tenant]

    ________________________________              __________________________________

[Instruction: Insert the address of Landlord      [Instruction: Insert the address of Tenant]




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                                          Exhibit-A

                                Kindly refer to the Recital Clause




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