[RPPTL LandTen] Landlord tenant issue

Wed Jun 24 04:51:30 PDT 2015

Hi Arlene,
I would argue that the first contract is not actually an exercise of the option at all, but just a contractual agreement for sale and purchase.  Since the Lease allows for the exercise of the option only during a specific time period and since the first contract was not executed during that specific time period, I feel the Lessee could still exercise the option (so long as it is done within the option period) even if the first contract falls through. 
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      From: Arlene Udick <arlene at udicklaw.com>
 To: RPPTL Landlord Tenant Committee <landten at lists.flabarrpptl.org> 
 Sent: Tuesday, June 23, 2015 6:44 PM
 Subject: [RPPTL LandTen] Landlord tenant issue

Dear wise brothers and sister in law, I need your wisdom in this situation    I represent a party who signed a lease option.  Lease is for six months, lessee can exercise his option at any time between month 3 and month 5 of the lease.  Lessee exercised his option during month 2 by presenting a purchase contract which all parties signed.  Though the parties agree on the business terms the buyer’s attorney is trying to rewrite the process of how the closing will take place. So far the buyer has asked for 3 extensions to the closing but has failed to meet any of them.  The actions of the buyer seem that the buyer is trying to back out of the purchase without saying so.  The buyer insists that he still wants to buy, but his behavior indicates otherwise.    Can the lessee present a second exercise of his option and restart the negotiations all over or do you only get one exercise per option agreement? Do we have a valid option agreement?  What happens if the situation between the parties break down?  It almost looks like my client is being set up for a breach.  Any insight or advice is appreciated.   Thanks for your help.  Arlene

 Arlene C. Udick, Esq. (p) 352-391-1888 (c) 352-217-3176    EMAIL CONFIDENTIALITY:  The information contained in this electronic message may contain attorney-client privilege and confidential information intended only for use of the owner of the email address listed as the recipient of this message.  If you are not the intended recipient of this email message you are hereby notified that any disclosure, dissemination, distribution, or copying of this information is strictly prohibited.  If you have received this email in error, please notify the sender by return email and/or by telephone at 352-391-1888.       
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