Posted by Michele on December 03, 1998 at 12:08:50:
Irwin:
I apologize this has taken me so long to reply. Thank you very, very much for the release. I have used it and it worked out great.
Thank you for your timely response to my urgent need.
Option Release Form - Posted by Michele from MI
Posted by Michele from MI on November 30, 1998 at 16:19:26:
We have some people who want out of their L/O. They are the tenant/buyers. We told them we will let them out if we re-rent the property or sell it.
However, to do this, we need to sign an option and purchase agreement release form. Does anyone have one they can share?
On the other hand, can we all just void out our option and purchase agreements. I would think this would be easier, but will it hold up?
Thanks in advance,
Michele
Re: Option Release Form - Posted by Irwin
Posted by Irwin on December 01, 1998 at 05:49:10:
Put this (or something similar) on paper and get it signed:
For good and valuable consideration the receipt of which is hereby acknowledged, the undersigned
landlord/owner and tenant/optionee, hereby mutually cancel and release each other from all provisions of, including, but not limited to any purchase option, a certain Lease/Option Agreement entered into by and between them on ____, 19, regarding the property located at: ________________________. All rent, security deposits(?), option fees, etc… and other payments heretofore made by the tenant/optionee shall remain the property of the landlord/owner. Landlord/owner has retaken possession of the property and it is in good condition.
Dated this ______day of December, 1998.
Signed - Landlord/owner
Signed - Tenant/Optionee