Net Lawman stock options to buy many assets. These are options to buy land (real property). We also have an option suitable for intellectual property (set up for a domain name) and one suitable for “goods” (set up for a horse).
When to use:
All these contracts will take effect to create a valid option to buy land.
The standard version AU-PR303 is most fitting for dealing with a land owner who is happy with legal documents, or with his solicitor.
AU-PR301 is as AU-PR303, but with built-in provision for an extension of the option period in exchange for an additional payment to the Seller. This rewards the Seller for waiting longer.
AU-PR302 is as AU-PR303, but with built-in provision for increasing the exercise price in proportion to the increased value of the land, thus returning a “fair” proportion of the increase to the seller, regardless of the level of success of any scheme.
AU-PR304 is as AU-PR303, but with warranties and “legal” provisions reduced. This recognises that many land owners may be reluctant to sign an agreement which appears too legalistic.
AU-PR305 is as AU-PR304, but even simpler. It contains only the basic points necessary to create a valid option and buy the land.
These agreements are suitable for:
- any type of land - field, farm, shop, garage, house, derelict site, or other land;
- any situation where an option is required. If land is to be bought for a large scheme, then AU-PR301, 302, or 303 will be appropriate. If the land owner may be reluctant or the land value small, the AU-PR304 or 305 will be suitable.
Which to use?
This really is a personal decision. It depends how comprehensive you want your deal to be. Many option agreements involve other “additional features” than those we have added to versions AU-PR301 and AU-PR302.
Agreements AU-PR301 to AU-PR303 include the following provisions:
- All the variable matters in one place for ease of completion;
- The essence of the agreement;
- Calculation of price or additional price or extended option;
- Buyers warranties;
- Sellers warranties;
- Confidentiality;
- Indemnities;
- and many other usual provisions to protect your interest.
