Posted by John Merchant on November 29, 2004 at 08:28:30:
Two issues here to be aware of:
First, Memo of Option isn’t recordable everywhere, such as CA, as its laws have a short laundry list of recordable docs, and such a Memo or Notice is not on it.
I know, from firsthand experience, as I tried to record such and it bounced like a bad check.
Secondly, you should be aware that even if you did succeed in recording such, a title co. might very well “bond around” it, and go ahead and let the seller convey title to a 3d party, ignoring your memo.
Best strategy, if you really have good defensible position, by written contract, is to file suit for Specific Performance and record your Lis Pendens immediately…no title co. is going to bond around that!