The Utah Lease Agreement with Option for Purchase (Form 31) is a document originated by the Utah Association of Realtors. The purpose of the form is to grant an individual the right to buy a property during the time of their tenancy. This is common with folks who would like to acquire a certain property but are not quite ready to follow through with the purchase. Of course, this can only be done if the owner agrees, and most property holders will request that a deposit be made for assurance. Supposing that both parties are on the same page, they will have to provide the document with some of the following vital pieces of information/actions:

• Amount of Money for the Option
• Description of the Property
• Included Items with the Sale
• Term of the Contract
• Purchase Price for the Home
• Signatures of All Participating Parties

(In addition to the agreement, this packet also includes an addendum, Form 32, to add supplementary terms to the contract, as well as the Notice of Intent to Purchase Property, Form 33.)

Disclosure Requirements – § 15-8-6