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Real Estate Attorney Pahrump NV

Commonly, options are used in leases in which the landlord gives the tenant an option to buy the property. Read the following article to learn all about different real estate options you can purchse.

Michael G. Navarro
(702) 386-8637
6725 Via Austi Parkway
Las Vegas, NV
Specialties
Intellectual Property, Real Estate, Business
Education
South Texas College of Law,Texas A&M University
State Licensing
Nevada, Texas

Jacob Dale Bundick
(702) 634-5003
400 South Fourth Street, Suite 450
Las Vegas, NV
Specialties
Business, Criminal Defense, Employment, Administrative Law, Real Estate, Construction, Landlord & Tenant, Litigation
Education
Washington University
State Licensing
Texas

Gregory Scott Gilbert
(866) 643-0063
3800 Howard Hughes Pkwy 10fl
Las Vegas, NV
Specialties
Construction, Litigation, Real Estate
Education
McGeorge SOL Univ of the Pacific,Univ of California Santa Barbara
State Licensing
California

Nancy Helene Jasculca
(775) 322-3666
10587 Double R Blvd Ste 100
Reno, NV
Specialties
Real Estate
Education
Golden Gate Univ SOL,Univ of California Davis
State Licensing
California

Jason Stephen Jeskey
(702) 464-7037
4112 Deep Space St
N Las Vegas, NV
Specialties
Public Finance, Employee Benefits, Real Estate
State Licensing
Maryland

Michael Alan Reynolds
(702) 693-4304
400 S 4th St Ste 500
Las Vegas, NV
Specialties
Real Estate, Litigation
Education
Univ of Oregon SOL,Univ of Oregon
State Licensing
California

Douglas V. Ritchie
(702) 968-8087
4270 S. Decatur Blvd., Ste. A-9
Las Vegas, NV
Specialties
Real Estate, Employment, Employee Benefits
Education
University of Utah S.J. Quinney College of Law,Brigham Young University
State Licensing
New Mexico

Stuart Ross Sagan
(775) 588-7800
P O Box 12219
Zephyr Cove, NV
Specialties
Real Estate
Education
Santa Clara Univ SOL,Univ of California Berkeley
State Licensing
California

David J. Winterton
(702) 363-0317
211 N Buffalo Dr.
Las Vegas, NV
Specialties
Real Estate, Bankruptcy
Secondary Specialties
Eminent Domain, Renting & Leasing, Homeowners' Associations, Building Codes, Eminent Domain, Credit Restoration, Renting & Leasing, Credit Disputes, Construction Defects, Tenant, Insurance, Buying & Selling, Insurance, Title Insurance, Business Bankruptcy, Mortgages, Broker & Transaction Litigation, Buying & Selling, Condemnation, Title Litigation, Chapter 13, Construction Financing, Homeowners' Associations, Land Contracts, Condominiums & Cooperatives, Garnishments, Collections & Repossessions
State Licensing
Nevada

Data Provided by:
Paul J Malikowski
(775) 786-0758
241 Ridge Street, Suite 300-105
Reno, NV
Specialties
Real Estate
Education
Santa Clara Univ SOL,Temple Univ
State Licensing
California, Nevada

Data Provided by:

Real Estate Options to Purchase

Real Estate Options To Purchase
Sat 07/04/09 08:54:18 pm
by Laine Wagenseller

"An option is a contract by which the owner of property invests another with the exclusive right to purchase said property at a stipulated sum within a limited or reasonable time in the future." Nattress & Associates v. Cidco (1986) 184 Cal.App.3d 55, 66. Donald Trump used an option to purchase the Hotel Commodore at Grand Central Terminal, his ground breaking first deal at 27 years old. More commonly, options are used in leases in which the landlord gives the tenant an option to buy the property.   For example, the AIR Option to Purchase form provides that the lessee must provide written notice within a certain time period (i.e., April 1, 2004 to April 30, 2006), with the option expiring at the end of the option period. The form also sets forth the price, the escrow agent, a time period in which to close the sale and other instructions. After exercising an option, the parties should then enter into a Purchase & Sale Agreement, which addresses in more detail all of the minutiae of the sale transaction.   An Option is Irrevocable
An option supported by consideration (even $1) is an irrevocable offer, open for a prescribed period. The acceptance must be in accordance with the terms of the option agreement and must be in accordance with the terms of the option agreement and must be free of conditions which the optionor is not bound to perform. Riverside Fence Co. v. Novak (1969) 273 Cal.App.2d 656, 660. The exercise of an option is merely the communicated election of the optionee to accept the option. Id.at 661. It is important to recognize that, in terms of the formation of a contract, an option is a contract. Therefore, the "offer" (option) is truly irrevocable and merely awaits acceptance.
  A Qualified or Conditional Acceptance
What is the effect of an acceptance which adds additional terms or is made conditional? "Any tender of performance is ineffective if it imposes conditions upon its acceptance which the offeror is not entitled to demand." Riverside Fence Co., supra., at 662. However, the fact that a purported acceptance adds a qualification to the agreed-upon option does not in and of itself terminate the option. As long as the option period has not yet expired, a party may still exercise the option without qualification or condition (even though a prior [ineffective] acceptance may have added such qualifications). Again, the option is truly irrevocable.
  The courts have explained that "if the person offering to perform is acting in good faith, and makes the mistake of demanding something to which he is not entitled, he ought to be given the same opportunity to recede from such demand that he is allowed for tendering the correct amount where he has tendered too little, or the right thing where he has tendered the wrong thing..." Nattress & Associates, supra., at 67.   Waiver of...

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