lease option question - Posted by diana kanan

Posted by Bill Jacobsen on March 28, 2007 at 19:22:13:

The option has an end date. It is always best to state in the document the steps required to extend the date of the option. Then it becomes very clear whether the option was extended or not. Whether she signed a new lease or not is not relevent to the option unless that was a condition of the continuation of the option.

Bill

lease option question - Posted by diana kanan

Posted by diana kanan on March 28, 2007 at 09:27:03:

If I had a tenant sign a two-year lease with a separate option to buy (there was a clause in the option that stated she could extend her option for one year if she so desired) And after the two years was up, she never signed a new lease or an extension on the option (she became a month to month tenant at that point) Do I still have to honor the option to purchase?