[RPPTL LandTen] Security Deposits on Condo Rentals

[David Weisman]

Looks like a badly written option, subject to prior sale at any time before the Tenant buys it. If the Tenant comes forward with $2,000,000, I think Landlord has agreed to sell it to Tenant at that price.

David  Weisman
Board Certified Real Estate Lawyer
Greenspoon Marder, P.A.
Trade Center South, Suite 700
100 West Cypress Creek Road
Ft. Lauderdale, FL 33309
Phone 954-491-1120
Toll Free 888-491-1120
Direct Phone 954-343-6941
Direct Fax 954-343-6942

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From: landten-bounces at lists.flabarrpptl.org [mailto:landten-bounces at lists.flabarrpptl.org] On Behalf Of Charles Levin
Sent: Thursday, April 21, 2011 11:18 AM
To: RPPTL Landlord Tenant Committee
Subject: Re: [RPPTL LandTen] Security Deposits on Condo Rentals

Good morning!  I am wondering what you all think about the enforceability by the tenant of the following clause found in a lease.  (I represent the landlord.)

35. TENANT'S OPTION TO PURCHASE. Landlord agrees to sell Tenant the Premises for the
total amount of $2,000,000. The option must be exercised within the initial five-year term of
the Lease. This option is in no way restrictive or to be considered as a right of first refusal,
contract or binding agreement keeping the Landlord from selling said property to anyone else at
any time during the lease term, for any amount.

Thank you,

Charles J. Levin
Attorney at Law
Post Office Box 342727
Tampa, FL 33694
Telephone 813-963-5135

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