The Scope of this Talk
Options and overage agreements along with conditional contracts and pre-emption agreements are all contractual tools at our disposal to give clients flexibility when dealing with (or contemplating dealing with) land. Clients may wish for flexibility for any number of reasons but all arise out of the desire to take advantage of or protect against future contingencies. Often the future contingencies are matters that can have a significant impact on the value of the land and/or its attractiveness to the purchaser or potential purchaser. This talk will not address conditional agreements at all. Some reference will be made to pre-emption rights giving their relationship to options.
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