This form is an option to purchase real estate. The long form provides for any necessary easement to public roads and utilities to be included in the deed. This short form is recorded to serve as public notice.
Georgia Option to Purchase Real Estate - Short Form
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How to fill out Option To Purchase Real Estate - Short Form?
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FAQ
A purchase option is a right to purchase or lease land or other property interests without any obligation to do so.
In Georgia, designated agency is denied by state statute not to be dual agency. (d) Dual Agency: Georgia law allows both parties to agree to have one agent or broker represent them in a real estate transaction at the same time.
The fundamental difference between an Option and a Right of First Refusal is that an Option to Buy can be exercised at any time during the option period by the buyer. With a Right of First Refusal, the right of the potential buyer to complete the transaction is triggered only if the seller wants to complete a sale.
A fixed price purchase option is the right to buy a leased item at the end of a lease term at a pre-determined price. The fixed price purchase option's purchase price and conditions are established when the lease terms are agreed upon.
Agency Disclosure (§ 520-1-. 06(4)(b)) No standardized form. Georgia law demands that licensees describe to both buyers and sellers the relationship established upon accepting representation by an agent.
Seller Disclosure Statement in GeorgiaUsually a real estate agent will use the "Seller's Property Disclosure Statement" form prepared by the Georgia Association of REALTORS.
Early Purchase Option means the State's option to purchase all of Lessor's right, title and interest in and to, all Equipment leased under any Lease, or any lesser portion thereof specified by the State, as provided in Section 12.
Lease Purchase is a form of Hire Purchase or Conditional Sale agreement - requiring you to take ownership of the vehicle after all payments have been made - but the regular payments are structured like a lease/rental agreement.
Purchase Option Price means an amount equal to the amount required to defease or otherwise discharge the Bonds under the Trust Agreement plus the amount of any Additional Payments which are due or accrued hereunder at the time which any purchase option hereunder is exercised.
Georgia, like most other states, has disclosure obligations that require the sellers of commercial and residential real estate to reveal to potential buyers certain defects that exist. The state enacts these requirements in order to ensure buyers can make as informed purchase decisions as possible.
