What Is A Memorandum Of Option Agreement

Copyright Thomas J. Lucier 2005. To customize this document, download it from Thomas J. Lucier`s website at www.thomaslucier.com/optionforms.html on your hard drive. The document can then be opened, edited and printed with Microsoft Word or any other popular word processing application. Mr. Jones exercised the real estate option notice. A copy of the communication must also be sent to Mr. Good. This memorandum of Real Estate Option Agreement, concluded on the ninth day of July 2005, is used to register and announce a real estate option contract between Donald S. Reed, a single man, as an option, in which the optionor, David Jones, one man, grants the options the exclusive, unlimited and irrevocable right and the possibility of acquiring this particular property, which is: 45735 Hillsbor, Tampa Avenue, Florida 33603, and legally described as: Lots 47, 48, and 49 of Carters subdivision, according to map or plat of, as recorded in plat book 69, page 89, of the public records of Hillsborough County, Florida, that was executed between the Optionor and Optionee on the ninth day of July 2005 and will expire at 12:01 a.m. , 2006. 4.

In the event that the real estate option is exercised, Mr. Reed or his beneficiaries of the transfer must send an agreement, such as .B sample from page 183, in the public register of the landkreis registering the optional property agreement. I recommend registering a memorandum instead of the real estate option agreement, as the terms of the agreement should remain confidential. There is no reason to tell your competitors what you want. When I was young and dumb, I learned the hard way not to record an option protocol in the public archives. A property on which I had an option was condemned by a major domain action of the Florida Department of Transportation as part of a road widening project. But because I had failed to register an option protocol in the public records of the county where the property was located, the State of Florida did not have the opportunity to know that I had an option on the property, and I was never informed. However, if I had registered an option protocol, I would have been informed by the State of Florida and I could have exercised my option, bought the property and left with a nice pay day! Instead, I learned the excellent domain procedure after my option expired. 9. In the event that the option period expires without the option being exercised, Mr. Good must send the real estate purchase agreement and warranty to Mr.

Jones within 24 hours of the expiry date. Finally, I recommend that you include in your real estate option contract a clause that will allow you to register a memorandum of the real estate option 6. Mr. Reed or his beneficiaries of the assignment must present Mr. Good with a cash cheque in used currency, which must be used in a local bank and to be paid to Mr. Jones in the amount set out in the real estate purchase agreement, net of the seller`s acquisition costs and any additional adjustments or instalments. . On this 9 July2005, Robert D. Jones in optionor/Seller and Donald S. Reed 7. Mr.

Reed or his beneficiary of the assignment receive the supporting documentation held by Mr. Good in trust. FORM 17.1 Sample Joint Escrow Instructions (continued) . FORM 17.2 Mérandum model regarding the real estate options agreement IN WITNESS WHEREOF, Optionor/Seller and Optionee/Buyer have set their date mentioned above. 6907 Charleston Court, Tampa, Florida 33607, hold the following documents in trust for the period from July 9, 2005 to 12:01 p.m. .m. July 8, 2006: 5. Mr. Reed or his beneficiaries must execute the contract to purchase real estate held by Mr. Good in trust, by having his signature certified as a buyer.

8.M. Good must send Mr. Jones his cash cheque and copies of the HUD 1 and Warranty Deed settlement statements within 24 hours of the closing of the transaction. The documents mentioned above must be held in trust by Mr. Treuhernder.