This office lease form states that the tenant shall exercise its option to renew this lease upon written notice given to the landlord no less than eighteen (18) months before the end of the lease term.
Utah Notice of Intention to Exercise Option
State:
Multi-State
Control #:
US-OL24016
Format:
Word;
PDF
Instant download
Description
How to fill out Notice Of Intention To Exercise Option?
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FAQ
In this agreement, a seller offers an option to the buyer to purchase property at a fixed price within a limited time frame. In other words, this option is a specific contract on a distinct piece of real estate that gives a buyer the exclusive right to purchase that specific property.
An option-to-purchase contract must conspicuously state the duration of the option period. There is no correct or preferred unit of time and option periods can range from months to years. Typically, however, in the residential context, option periods range from one-to-five years.
If you're a tenant, you're under no obligation to purchase. But if you fall in love with the property and you're in a position to buy, you won't have to compete with other buyers to make it yours. Mail a Notice of Exercise of Option to Purchase to your landlord and start negotiating. Notice of Exercise of Option to Purchase - Rocket Lawyer Rocket Lawyer ? tenants ? document Rocket Lawyer ? tenants ? document
Exercising the Option to Purchase (OTP) is a major step on any home buyer's journey. Once the OTP has been issued by the home seller, the buyer will be granted exclusive rights to purchase the home at a pre-approved price.
