Buyers Temporary Residential Lease Form. This is a Texas form and can be use in Texas Real Estate Commission Statewide.
Tags: Buyers Temporary Residential Lease, 16-4, Texas Statewide, Texas Real Estate Commission
PROMULGATED BY THE TEXAS REAL ESTATE COMMISSION (TREC) (NOTICE: For use only when BUYER occupies the property for no more than 90 days PRIOR the closing) EQUAL HOUSING OPPORTUNITY 12-04-06 BUYER'S TEMPORARY RESIDENTIAL LEASE 1. PARTIES: The parties to this Lease are (Landlord) and (Tenant). 2. LEASE: Landlord leases to Tenant the Property described in the Contract between Landlord as Seller and Tenant as Buyer known as (address). 3. TERM: The term of this Lease commences specified in Paragraph 18. and terminates as 4. RENTAL: Rental will be $ per day. Upon commencement of this Lease, Tenant shall pay to Landlord the full amount of rental of $ for the anticipated term of the Lease (commencement date to the Closing Date specified in Paragraph 9 of the Contract). If the actual term of this Lease differs from the anticipated term, any additional rent or reimbursement will be paid at closing. No portion of the rental will be applied to payment of any items covered by the Contract. 5. DEPOSIT: Tenant has paid to Landlord $ as a deposit to secure performance of this Lease by Tenant. If this Lease is terminated before the Closing Date, 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 30 days after Tenant (a) surrenders possession of the Property and (b) provides Landlord written notice of Tenant's forwarding address. If this Lease is terminated by the closing and funding of the sale of the Property, the deposit will be refunded to Tenant at closing and funding. NOTICE: The deposit must be in addition to the earnest money under the Contract. 6. UTILITIES: Tenant shall pay all utility connections, deposits and charges except , which Landlord shall pay. 7. USE OF PROPERTY: Tenant may use the Property only for residential purposes. Tenant may not assign this Lease or sublet any part of the Property. 8. PETS: Tenant may not keep pets on the Property except . 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. 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: 12.INSPECTIONS: Landlord may enter at reasonable times to inspect, replace, repair or complete the improvements. Tenant shall provide Landlord door keys and access codes to allow access to the Property during the term of the Lease. 13.LAWS: Tenant shall comply with all applicable laws, restrictions, ordinances, rules and regulations with respect to the Property. 14.REPAIRS AND MAINTENANCE: Except as otherwise provided in this Lease, Tenant shall bear all expense of repairing, replacing and maintaining the Property, including but not limited to the yard, trees, shrubs, and all equipment and appliances, unless otherwise required by the Texas Property Code. 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 the Landlord, Landlord's agents or invitees. Initialed for identification by Landlord and Tenant TREC NO. 16-4 Buyer's Temporary Residential Lease Page 2 of 2 12-04-06 (Address of Property) 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. NOTE: CONSULT YOUR INSURANCE AGENT; POSSESSION OF THE PROPERTY BY BUYER AS TENANT MAY CHANGE INSURANCE POLICY COVERAGE. 17.DEFAULT: If Tenant fails to perform or observe any provision of this Lease and fails, within 24 hours 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 and funding 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 and funding 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 this Lease is entitled to recover from the non-prevailing party all costs of such proceeding and reasonable attorney's fees. 21.SMOKE DETECTORS: The Texas Property Code requires Landlord to install smoke detectors in certain locations within the Property at Landlord's expense. Tenant expressly waives Landlord's duty to inspect and repair smoke detectors. 22.SECURITY DEVICES: The requirements of the Texas Property Code relating to security devices do not apply to a residential lease for a term of 90 days or less. 23.CONSULT YOUR ATTORNEY: Real estate licensees cannot give legal advice. This Lease is intended to be legally binding. READ IT CAREFULLY. If you do not understand the effect of this Lease, consult your attorney BEFORE signing. 24.NOTICES: All notices from one party to the other must be in writing and are effective when mailed to, hand-delivered at, or transmitted by facsimile or electronic transmission as follows: To Landlord: To Tenant: Telephone: ( ) Telephone: ( ) Facsimile: ( ) Facsimile: ( ) E-mail: E-mail: Landlord Tenant Landlord Tenant The form of this contract has been approved by the Texas Real Estate Commission. TREC forms are intended for use only by trained real estate licensees. No representation is made as to the legal validity or adequacy of any provision in any specific transactions. It is not intended for complex transactions. Texas Real Estate Commission, P.O. Box 12188, Austin, TX 78711-2188, 1-800-250-8732 or (512) 459-6544 (http:// www.trec.state.tx.us) TREC NO. 16-4. This form replaces TREC NO. 16-3. TREC NO. 16-4