Option clauses

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Practice notes
The Solicitors Regulation Authority’s (SRA) Handbook (SRA Handbook 2011) which contains the Solicitors Regulation Authority’s Code of Conduct (SRA...
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19th May
Precedents
date [date]Parties1[name of Seller] [of OR incorporated in England and Wales with company registration number [number] whose registered office is at]...
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19th May
Precedents
[To be printed on Landlord’s letterheaded paper]Our Ref:Date:To: [insert name of Tenant]From: [insert name of previous Landlord] [of [insert address]...
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19th May
Practice notes
What is a disclosure letter?A disclosure letter is a letter from a seller to a buyer containing both general and specific disclosures as well as a...
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19th May
Precedents
1Change of control1.1In this clause the following definitions apply:Authorised Controller[s]•[[name] [of OR incorporated in England and Wales with...
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19th May
Practice notes
A surrender and re-grant by operation of law can occur if an agreed variation of the terms of a lease is so fundamental that the law regards it as...
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19th May
Practice notes
Overriding interests are interests which are binding on property even though they are not shown on the register. They bind both the registered...
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19th May
Q&As
A deed (such as a TR1) is valid and binding if the essential ingredients of execution as a deed, attestation and delivery as a deed are all present:...
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19th May
Practice notes
No suspension impliedA suspension of rent is not implied even where the tenant pays the cost of insurance. The tenant remains liable for the rent even...
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19th May
Precedents
Rent Review MemorandumLandlord•[insert full name of Landlord] [of [insert address] OR incorporated in England and Wales with company registration...
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19th May
Precedents
This Deed is made on [date]Parties1[name of person releasing the covenants] [of [insert address] OR incorporated in England and Wales with company...
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19th May
Practice notes
Whether a tenant has yielded up, with or without vacant possession, is a question of fact and degree. Most modern leases contain an express covenant...
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19th May
Practice notes
Merger may determine a lease when both the lease and the reversion on that lease become vested in the same person and that person holds both interests...
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19th May
Practice notes
What is a pre-emption?A pre-emption is a type of option to purchase—historically the most common and arguably the least complex (at least in the form...
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Produced in partnership with Stuart King of Blackadders and Melanie Ballantyne of Blackadders 19th May

Most recent Option clauses content

Practice notes
Call options—exercising the optionOption agreements are strictly construed and the option may be lost if the option holder does not exercise it...
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5th Jun
Practice notes
Call options—calculating the priceIn all but the simplest cases and particularly with development land, a fixed price may not be sufficient and the...
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5th Jun
Practice notes
Call options—protection against third partiesA call option is (generally) an equitable interest in land and must be protected by registration in order...
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5th Jun
Practice notes
Option agreements—the need for a long-stop dateCall options are frequently used by developers to secure a right to buy land if planning permission is...
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5th Jun
Practice notes
Options—extending time for exerciseUnless the option agreement or contract specifically allows for extensions of time, the time limit must be strictly...
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5th Jun
Precedents
Tenant’s option to purchase the reversionOption to purchase the reversion1The Landlord and the [Original] Tenant agree in the terms set out in...
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5th Jun
Precedents
1 Definitions [Guarantor for the purposes of clause 2, the ‘Guarantor’ includes any person acting as guarantor for the...
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26th Sep

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