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What does it mean to exercise an Option in real estate?
If you hold a real estate option, it provides you the right to buy a property for a pre-determined price (set in the option), for a pre-determined. period. If you exercise the option, the seller is required under the contract to sell you the property listed in the option for the price listed in the option.
On what ground lease can be terminated?
Lapse of time When the prescribed time of the lease expires, the lease is terminated. Specified event When there is a condition on time of lease depending upon a happening of an event. Interest Lessors interest to lease the property may cease, hence resulting in the termination of the lease.
What is exercise Option to purchase?
An Option to Purchase is exercised when a buyer decides that he wishes to purchase the property, signs the acceptance copy and pays the balance deposit for the property (see below).
What is an Option notice?
Option Notice means a notice from the Lessee to the Lessor exercising the option to purchase the Option Premises; Sample 1Sample 2Sample 3.
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Remedies Available to the Landlord - Judicial Education Center
In a month-to-month residency, the tenant or landlord must give written notice to the other at least thirty days prior to the periodic rental date specified in
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