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Model Grant of Purchase Option with Commentary

A purchase option assures the option holder of the right to purchase property at a certain price within a certain time period but without an obligation to do so. In granting an option, the landowner gives up the right to sell freely during the option period. The Model Grant of Purchase Option may be used for acquiring land, conservation easements, trail easements, and other property interests.
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The commentary was last updated in 2017.

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Last modified by Andy Loza

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