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AU-PR314 Put Option for land: assignable | | Price: A$ 45 |
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| | | About this document
A ‘put option’, is an agreement that confers an obligation on the buyer to buy within the option period (exercisable by the vendor who has paid the prospective purchaser a sum to take the obligation to buy). In comparison, a standard or regular option is a right to buy (exercisable by the buyer) within the option period, exercisable by the prospective purchaser at will.
In other words, this is a comprehensive legal document setting out the terms and conditions for an assignable and time-limited right on the part of a landowner to call upon a prospective purchaser of the land to buy it at an agreed pre-determined price. The purchaser is paid an option fee to bear this obligation which is called a ‘put option’. The terms of the agreement set out the granting of the right, the terms of the exercise notice to be served on the purchaser, the conditions of sale and a provision preventing the owner from creating incumbrances over the land in the option period.
The document also sets out the usual legal provisions in such an agreement, including dispute resolution and payment of any GST which is payable in respect of the land as a result of development.
We have a similar, non-assignable put option agreement here.
Application and features
- Sets out a clear and logical structure by which to grant and exercise a put option over land;
- Suitable for grants of most types of land put options;
- Written in plain English;
- Includes explanatory notes.
This document includes provision for:
- Grant of put option right;
- Conditions of sale;
- Disposals and incumbrances;
- Entire understanding provision;
- Provision about notices;
- Severability of any paragraphs found defective;
- Rights of third parties;
- Provision preventing assignment of the agreement;
- Mediation and Arbitration;
- Exercise notice – in letter form, as a schedule to the agreement;
- Explanatory notes and guidance.
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AU-PR314 Put Option for land: assignable | | Price: A$ 45 |
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Document length: 1500+ words; Explanatory notes: 800 words |
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Buying procedure explained : | - Click on "buy this document";
- provide your e-mail address and password;
- provide usual basic contact information and choose cheque or credit card payment;
- give credit card details on a WorldPay secure page;
- download your document and your invoice from the document collection point on our home page;
- you may need to allow two or three minutes for your payment to be processed before your document is available;
- you have 30 days within which to collect your document as often as you like;
- you can use your document as often as you like for one company or business only.
- your document is provided in format readable by most word processing programmes.
- If you choose to pay by cheque please print the form we provide, as instructed.
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