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Arlene Udick

Tue, Jun 23, 2015 10:44 PM

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

[Udick Law Logo_sig]

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.

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 [Udick Law Logo_sig] 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.

CS

Cary Sabol

Wed, Jun 24, 2015 11:51 AM

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.
CaryLaw Offices of Cary P. SabolP.O. Box 15981 | West Palm Beach | Florida | 33416 Phone: (561) 281-2744 IRS Circular 230 Notice: Pursuant to recently enacted U.S. Treasury Department Regulations, we are now required to advise you that, unless otherwise expressly indicated, any federal tax advice expressed above was neither written nor intended by the sender or this firm to be used and cannot be used by any taxpayer for the purpose of avoiding penalties that may be imposed under U.S. tax law. If any person uses or refers to any such tax advice in promoting, marketing or recommending a partnership or other entity, investment plan or arrangement to any taxpayer, then the advice should be considered to have been written to support the promotion or marketing by a person other than the sender or this firm of that transaction or matter, and such taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor. Confidentiality Notice: This electronic mail transmission is intended for the use of the individual or entity to which it is addressed and may contain confidential information belonging to the sender which is protected by the attorney-client privilege. If you are not the intended recipient, you are hereby notified that any disclosure, copying, distribution, or the taking of any action in reliance on the contents of this information is strictly prohibited. If you have received this transmission in error, please notify the sender immediately by e-mail and delete the original message. Thank you for your cooperation.
From: Arlene Udick arlene@udicklaw.com
To: RPPTL Landlord Tenant Committee landten@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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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. CaryLaw Offices of Cary P. SabolP.O. Box 15981 | West Palm Beach | Florida | 33416 Phone: (561) 281-2744 IRS Circular 230 Notice: Pursuant to recently enacted U.S. Treasury Department Regulations, we are now required to advise you that, unless otherwise expressly indicated, any federal tax advice expressed above was neither written nor intended by the sender or this firm to be used and cannot be used by any taxpayer for the purpose of avoiding penalties that may be imposed under U.S. tax law. If any person uses or refers to any such tax advice in promoting, marketing or recommending a partnership or other entity, investment plan or arrangement to any taxpayer, then the advice should be considered to have been written to support the promotion or marketing by a person other than the sender or this firm of that transaction or matter, and such taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor. Confidentiality Notice: This electronic mail transmission is intended for the use of the individual or entity to which it is addressed and may contain confidential information belonging to the sender which is protected by the attorney-client privilege. If you are not the intended recipient, you are hereby notified that any disclosure, copying, distribution, or the taking of any action in reliance on the contents of this information is strictly prohibited. If you have received this transmission in error, please notify the sender immediately by e-mail and delete the original message. Thank you for your cooperation. From: Arlene Udick <arlene@udicklaw.com> To: RPPTL Landlord Tenant Committee <landten@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. _______________________________________________ landten mailing list landten@lists.flabarrpptl.org http://mailman.fsr.com/mailman/listinfo/landten

GD

Gioia DeCarlo

Wed, Jun 24, 2015 12:29 PM

Wow! I wouldn¹t jump to that theory! Especially if the contract period
extended into the option period. Research needs to be done, but I would
look into an applicable merger theory. How can you hold an option and a
contract at the same time? That is, how can you have the right to become an
equitable title holder while being an equitable title holder? Makes no
sense.

This e-mail transmission and any documents, files or previous e-mail
messages attached to it, are confidential and are protected by the
attorney-client privilege and/or work product doctrine. If you are not the
intended recipient, or a person responsible for delivering it to the
intended recipient, you are hereby notified that any review, disclosure,
copying, dissemination, distribution or use of any of the information
contained in, or attached to this e-mail transmission is STRICTLY
PROHIBITED. If you have received this transmission in error, please
immediately notify me by forwarding this e-mail to Info@dvllclegal.com, or
by telephone at (845) 321-0242 and then delete the message and its
attachments from your computer.

From: Cary Sabol sabollawoffice@yahoo.com
Reply-To: Cary Sabol sabollawoffice@yahoo.com, RPPTL Landlord Tenant
Committee landten@lists.flabarrpptl.org
Date: Wednesday, June 24, 2015 at 7:51 AM
To: RPPTL Landlord Tenant Committee landten@lists.flabarrpptl.org
Subject: Re: [RPPTL LandTen] Landlord tenant issue

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.

Cary
Law Offices of Cary P. Sabol
P.O. Box 15981 | West Palm Beach | Florida | 33416
Phone: (561) 281-2744

IRS Circular 230 Notice: Pursuant to recently enacted U.S. Treasury
Department Regulations, we are now required to advise you that, unless
otherwise expressly indicated, any federal tax advice expressed above was
neither written nor intended by the sender or this firm to be used and
cannot be used by any taxpayer for the purpose of avoiding penalties that
may be imposed under U.S. tax law. If any person uses or refers to any such
tax advice in promoting, marketing or recommending a partnership or other
entity, investment plan or arrangement to any taxpayer, then the advice
should be considered to have been written to support the promotion or
marketing by a person other than the sender or this firm of that transaction
or matter, and such taxpayer should seek advice based on the taxpayer's
particular circumstances from an independent tax advisor.

Confidentiality Notice: This electronic mail transmission is intended for
the use of the individual or entity to which it is addressed and may contain
confidential information belonging to the sender which is protected by the
attorney-client privilege. If you are not the intended recipient, you are
hereby notified that any disclosure, copying, distribution, or the taking of
any action in reliance on the contents of this information is strictly
prohibited. If you have received this transmission in error, please notify
the sender immediately by e-mail and delete the original message. Thank you
for your cooperation.

From: Arlene Udick arlene@udicklaw.com
To: RPPTL Landlord Tenant Committee landten@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 buyer¹s 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.

landten mailing list
landten@lists.flabarrpptl.org
http://mailman.fsr.com/mailman/listinfo/landten

_______________________________________________ landten mailing list
landten@lists.flabarrpptl.org
http://mailman.fsr.com/mailman/listinfo/landten

Wow! I wouldn¹t jump to that theory! Especially if the contract period extended into the option period. Research needs to be done, but I would look into an applicable merger theory. How can you hold an option and a contract at the same time? That is, how can you have the right to become an equitable title holder while being an equitable title holder? Makes no sense. This e-mail transmission and any documents, files or previous e-mail messages attached to it, are confidential and are protected by the attorney-client privilege and/or work product doctrine. If you are not the intended recipient, or a person responsible for delivering it to the intended recipient, you are hereby notified that any review, disclosure, copying, dissemination, distribution or use of any of the information contained in, or attached to this e-mail transmission is STRICTLY PROHIBITED. If you have received this transmission in error, please immediately notify me by forwarding this e-mail to Info@dvllclegal.com, or by telephone at (845) 321-0242 and then delete the message and its attachments from your computer. From: Cary Sabol <sabollawoffice@yahoo.com> Reply-To: Cary Sabol <sabollawoffice@yahoo.com>, RPPTL Landlord Tenant Committee <landten@lists.flabarrpptl.org> Date: Wednesday, June 24, 2015 at 7:51 AM To: RPPTL Landlord Tenant Committee <landten@lists.flabarrpptl.org> Subject: Re: [RPPTL LandTen] Landlord tenant issue 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. Cary Law Offices of Cary P. Sabol P.O. Box 15981 | West Palm Beach | Florida | 33416 Phone: (561) 281-2744 IRS Circular 230 Notice: Pursuant to recently enacted U.S. Treasury Department Regulations, we are now required to advise you that, unless otherwise expressly indicated, any federal tax advice expressed above was neither written nor intended by the sender or this firm to be used and cannot be used by any taxpayer for the purpose of avoiding penalties that may be imposed under U.S. tax law. If any person uses or refers to any such tax advice in promoting, marketing or recommending a partnership or other entity, investment plan or arrangement to any taxpayer, then the advice should be considered to have been written to support the promotion or marketing by a person other than the sender or this firm of that transaction or matter, and such taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor. Confidentiality Notice: This electronic mail transmission is intended for the use of the individual or entity to which it is addressed and may contain confidential information belonging to the sender which is protected by the attorney-client privilege. If you are not the intended recipient, you are hereby notified that any disclosure, copying, distribution, or the taking of any action in reliance on the contents of this information is strictly prohibited. If you have received this transmission in error, please notify the sender immediately by e-mail and delete the original message. Thank you for your cooperation. From: Arlene Udick <arlene@udicklaw.com> To: RPPTL Landlord Tenant Committee <landten@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 buyer¹s 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. _______________________________________________ landten mailing list landten@lists.flabarrpptl.org http://mailman.fsr.com/mailman/listinfo/landten _______________________________________________ landten mailing list landten@lists.flabarrpptl.org http://mailman.fsr.com/mailman/listinfo/landten