A lease buyout letter is a formal document used by a tenant to formally request that the landlord allow them to purchase their leased premises. This letter should clearly state the reasons why the tenant wishes to take such action, and should also include any relevant legal terms and conditions that need to be adhered to. In addition, the letter should explain exactly how the tenant intends to pay for the purchase, which may include financing or other options. It is important that both parties are in agreement before the lease buyout takes place, so clear communication and negotiation between the two can help ensure that everything goes according to plan.