This office lease provision states that at the end of the fifth (5th) year of the lease, the tenant shall have an option to purchase the building in which the premises is located at fair market value.
Mississippi Provision Setting Out a Purchase Option
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US-OL2404
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How to fill out Provision Setting Out A Purchase Option?
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FAQ
§ 31-7-13. All agencies and governing authorities shall purchase their commodities and printing; contract for garbage collection or disposal; contract for solid waste collection or disposal: contract for sewage collection or disposal; contract for public construction; and contract for rentals as herein provided.
If a subject to clause is in the contract, the seller commits to that buyer for a period of time and cannot accept any other offers during that time period. If another offer is received by the seller within the subject to time period, the seller can request the buyer remove the clause.
Section 93-19-13, Mississippi Code of 1972, is amended as follows: 93-19-13. (1) All persons eighteen (18) years of age or older, if not otherwise disqualified, or prohibited by law, shall have the capacity to enter into binding contractual relationships affecting personal property, mortgages, and real property.
A wrongful death action may be maintained or asserted for strict liability in tort or for any cause of action known to the law for which any person, corporation, legal representative or entity would be liable for damages if death had not ensued.
(1) Any person who shall be guilty of a willful or malicious trespass upon the real or personal property of another, for which no other penalty is prescribed, shall, upon conviction, be fined not exceeding Five Hundred Dollars ($500.00), or imprisoned not longer than six (6) months in the county jail, or both.
