New Jersey Option to Purchase Clause

• Category: Leases - Contracts
• State: Multi-State
• Control #: US-CL-605-1
• Format: Word; Rich Text

Description

Example of a clause regarding Options to Purchase property. An option to purchase agreement gives a home buyer the exclusive right to purchase a property within a specified time period and for a fixed or sometimes variable price. This, in turn, prevents sellers from providing other parties with offers or selling to them within this time period.