Model Real Estate Documents (excluding easements)

Model Grant of Purchase Option with Commentary

2022
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.
Last Modified
Sep 15, 2022
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14858 times

Model Grant of Right of First Offer

2022
The holder of a right of first offer has the opportunity to purchase land at the landowners’ asking price before other prospective purchasers have an opportunity. An alternative configuration has the holder, rather than the landowners, making the first offer. If the right of first offer is coupled with a right of first negotiation, the holder has the further benefit of time for counterproposals and seeking mutually agreeable terms with the landowners before other bidders make competing offers. This model provides for both rights.
Last Modified
Aug 22, 2022
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20875 times

Model Grant of Right of First Refusal

2022
If an owner intends to accept an offer for the purchase of his or her land, the holder of a right of first refusal has the opportunity to purchase the land at the price and terms offered by the prospective buyer. If the holder of the right declines to purchase on those exact terms, the owner is then free to sell to the prospective buyer. If an owner is willing to commit to providing such a right to an organization, this model is a tool to document and ensure the enforceability of the commitment.
Last Modified
Aug 23, 2022
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14914 times