Legal Topics

Lease/Option Agreements: How to Make Sure Your Option to Purchase Is Not an Illusion

Tenants negotiating leases sometimes secure options to purchase the property. Without access to legal remedies, the option is nothing more than an illusion.

Specific Performance

This remedy compels the breaching party to fulfill contractual obligations, but requires legally complete options containing all essential deal terms.

Recommendation

Attach a comprehensive purchase contract as an exhibit to the lease, ensuring all standard real estate terms are included.

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