Mr. Jones exercised the Notice of Real Estate Option. A copy of the message must also be sent to Mr. Good. 4. If the real estate option is exercised, Mr. Reed or his transferees must submit an agreement, such as the template on page 183, in the public registration of the county in which the deed is registered under the option. I advise registering a memorandum instead of the real estate option agreement itself, as the terms of the agreement should remain confidential. There`s no reason to tell your competitors what you plan to do. When I was young and stupid, I learned the hard way not to include an option protocol in the public record. A piece of land for which I had an option was condemned by a major estate action by the Florida Department of Transportation as part of a road widening project. But since I had failed to register an option protocol in the public records of the county where the land was located, the state of Florida had no way of knowing that I had an option on the property, and I was never informed.
However, if I had registered an option memorandum, 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 payday! Instead, I learned for the field of eminently that I did when my option expired. Copyright Thomas J. Lucier 2005. To customize this document, download it to your hard drive from The Thomas J. Lucier website under www.thomaslucier.com/optionforms.html. The document can then be opened, edited, and printed with Microsoft Word or another common word processing application. Finally, I strongly recommend that you include in your real estate option agreement a clause that will allow you to register a memorandum on real estate options This memorandum of Real Estate Option Agreement, concluded on the ninth day of July 2005, serves to register and notify a real estate option agreement between Donald S. Reed. a single man as an option taker in which the optionaire, David Jones, a single man, grants the licensee the exclusive, unlimited and irrevocable right to purchase this particular property, known as 45735 Hillsborough Avenue, Tampa, Florida 33603 and is legally described as: lots 47, 48 and 49 of the Carters Subdivision, according to the card or platinum, As recorded in Plat Book 69, page 89, the public recordings of Hillsborough County, Florida, performed on the ninth day of July 2005 between the optionor and the option and which take place at 12:01 .m. .