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

Summary

This template of a memorandum of real estate purchase option agreement may be used by a purchaser who wishes to record its right to purchase real property in Ohio 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 Ohio. This template is suggested for use in Ohio, however, local counsel should be engaged to ensure that all state-specific requirements are met and the agreement and ancillary documents comply with Ohio law in all respects. For further information about recording procedures in Ohio, see Recording Procedures (OH). For a template real estate purchase option agreement, see Real Estate Purchase Option Agreement (Commercial) (OH). For guidance on purchasing and selling commercial real estate in Ohio, see Purchasing and Selling Commercial Real Estate Resource Kit (OH). For a full listing of key content covering purchasing and selling commercial real estate, see Purchasing and Selling Commercial Real Estate Resource Kit.