The Law Society Library provides details of sources of precedents for options to buy or purchase property (commercial and residential).

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Options to buy or purchase property (commercial and residential): sources of precedents

Various options (call and put and right of pre-emption) to purchase the freehold are included in the Encyclopaedia of Forms and Precedents, vol. 38(2), (2012 reissue):

  • form 11, Call option agreement for sale of the whole of freehold property; purchase price fixed or ascertained by a method set out in one or other of Forms 31–36
  • form 12, Call option agreement for purchase of the whole of a single freehold commercial property with vacant possession at a fixed price; full form of sale and purchase agreement to be incorporated by annexation
  • form 13, Call option for purchase of a single freehold commercial property with vacant possession conditional on the buyer obtaining planning permission; purchase price fixed or ascertained by a method set out in one or other of Forms 31–36
  • form 14, Call option agreement for sale of part of the frontage of freehold property for road widening; purchase price fixed; accommodation works to be built by the buyer
  • form 15, Put option agreement for sale of the whole of freehold property; purchase price fixed or ascertained by a method set out in one or other of Forms 31–36
  • form16, Pre-emption agreement for sale of the whole of freehold property at a price to be quoted by the seller
  • form 17, Clauses for option agreements
  • forms 31 to 36 contain pricing schedules which set out various methods of calculating the purchase price. 

Options to purchase the landlord’s reversion of commercial property can be found in Encyclopaedia of Forms and Precedents, vol.  22(3)B (2011):

  • form 121, Tenant’s option to purchase the reversion, form of contract annexed to the lease,
  • form 122, Tenant’s option to purchase the reversion, terms of the contract contained in the lease. 

Options to purchase the landlord’s reversion of residential property can be found in Encyclopaedia of Forms and Precedents, vol. 23(3) (2015):

  • form 232, Clause: lease: fixed term: tenant’s option to purchase the reversion at market value: form of contract annexed to the lease,
  • form 233, Clause: lease: fixed term: tenant’s option to purchase the reversion at market value: terms of the contract contained in the lease. 

Precedents for the Conveyancer, (loose leaf, 1970-), vol. 3, Section 19 Miscellaneous:

  • paras 19-I1 to 19-I7, contains various options and pre-emptions including documentation for exercising options and several rights in leases and freehold. 

Butterworths Property Law Service (loose leaf, 1989-), vol. 1, Division III:

  • precedent 3: agreement for grant of an option for a lease. 

Aldridge, Practical Conveyancing Precedents (loose leaf, 1984-), vol.3:

  • form 6 Options, contains various options to buy and sell, assign freehold and leasehold and rights of pre-emption. 

Record last checked 24 July 2017 

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