Memorandum of Real Estate Purchase Option Agreement
(Commercial) (GA)

Summary

This memorandum of real estate purchase option agreement template may be used by a purchaser who wishes to record its right to purchase real property in Georgia pursuant to certain conditions set forth in a sales contract. This template contains practical guidance and drafting notes. A memorandum of a contract granting a purchaser an option to purchase real property may be recorded in lieu of the entire contract, often to avoid revealing the purchase price while putting third parties on notice of its right to purchase real property in Georgia. This template is suggested for use in Georgia; however, local counsel should be engaged to ensure that all state-specific requirements are met and the agreement and ancillary documents comply with Georgia law in all respects. For further information about recording procedures in Georgia, see Recording Procedures (GA). For a template for a real estate purchase option agreement, see Real Estate Purchase Option Agreement (Commercial) (GA). For a full listing of key content covering purchasing and selling commercial real estate in Georgia, see Purchasing and Selling Commercial Real Estate Resource Kit (GA).