Empathy List Archives

LG

Lloyd Granet

Wed, Jun 24, 2015 11:38 AM

With the passage of time has the window to exercise the option lapsed?

This email message was sent by:

Lloyd Granet | Board Certified Real Estate Attorney
Law Offices of Lloyd Granet, P.A.
2295 NW Corporate Boulevard, Suite 235
Boca Raton, FL 33431
Direct Dial: (561) 999-0090
Main Number: (561) 999-9300 x110
Fax: (561) 999-9400
Email: lgranet@granetlaw.com mailto:lgranet@granetlaw.com

NOTICE: IRS Circular 230 Disclosure: In order to ensure compliance with IRS Circular 230, we must inform you that any U.S. tax advice contained in this transmission and any attachments hereto is not intended or written to be used and may not be used by any person for the purpose of (i) avoiding any penalty that may be imposed by the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any tax-related matter(s) addressed herein.

NOTICE: This communication is: (a) sent by an attorney or his/her agent, (b) confidential, and (c) intended only for the use of the individual or entity to which it is addressed. If the addressee is a client, this communication is also subject to applicable privileges. If you are not the addressee, or the employee or agent responsible for the delivery to the addressee, any dissemination, distribution or copying of this communication is prohibited. If you received this communication in error: (a) any dissemination, distribution or copying is prohibited, and (b) Lloyd Granet, P.A. requests that you immediately notify us at (561) 999-9300 (collect) and destroy this communication. Thank you.

From: landten-bounces@lists.flabarrpptl.org [mailto:landten-bounces@lists.flabarrpptl.org] On Behalf Of Arlene Udick
Sent: Tuesday, June 23, 2015 6:44 PM
To: RPPTL Landlord Tenant Committee
Subject: N-1003 - Landlord Tenant Committee: [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

[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.

With the passage of time has the window to exercise the option lapsed? This email message was sent by: _________________________________________ Lloyd Granet | Board Certified Real Estate Attorney Law Offices of Lloyd Granet, P.A. 2295 NW Corporate Boulevard, Suite 235 Boca Raton, FL 33431 Direct Dial: (561) 999-0090 Main Number: (561) 999-9300 x110 Fax: (561) 999-9400 Email: lgranet@granetlaw.com<mailto:lgranet@granetlaw.com> NOTICE: IRS Circular 230 Disclosure: In order to ensure compliance with IRS Circular 230, we must inform you that any U.S. tax advice contained in this transmission and any attachments hereto is not intended or written to be used and may not be used by any person for the purpose of (i) avoiding any penalty that may be imposed by the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any tax-related matter(s) addressed herein. NOTICE: This communication is: (a) sent by an attorney or his/her agent, (b) confidential, and (c) intended only for the use of the individual or entity to which it is addressed. If the addressee is a client, this communication is also subject to applicable privileges. If you are not the addressee, or the employee or agent responsible for the delivery to the addressee, any dissemination, distribution or copying of this communication is prohibited. If you received this communication in error: (a) any dissemination, distribution or copying is prohibited, and (b) Lloyd Granet, P.A. requests that you immediately notify us at (561) 999-9300 (collect) and destroy this communication. Thank you. From: landten-bounces@lists.flabarrpptl.org [mailto:landten-bounces@lists.flabarrpptl.org] On Behalf Of Arlene Udick Sent: Tuesday, June 23, 2015 6:44 PM To: RPPTL Landlord Tenant Committee Subject: N-1003 - Landlord Tenant Committee: [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 [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.

DW

David Weisman

Wed, Jun 24, 2015 12:25 PM

It seems that the option has been exercised and the parties would be governed by the contract. Unless the terms provide for a continuing option, I think that once it is exercised it has been used and no longer exists. One bite at the apple.

David Weisman
Board Certified Real Estate Lawyer
Greenspoon Marder, P.A.
200 E. Broward Blvd., Suite 1800
Fort Lauderdale, FL 33301
Phone 954-491-1120 Ext. 1015
Direct Phone 954-343-6941
Direct Fax 954-343-6942

[cid:image006.jpg@01CF99C8.29DF4240]

From: landten-bounces@lists.flabarrpptl.org [mailto:landten-bounces@lists.flabarrpptl.org] On Behalf Of Lloyd Granet
Sent: Wednesday, June 24, 2015 7:39 AM
To: RPPTL Landlord Tenant Committee
Subject: Re: [RPPTL LandTen] N-1003 - Landlord Tenant Committee: Landlord tenant issue

With the passage of time has the window to exercise the option lapsed?

This email message was sent by:

Lloyd Granet | Board Certified Real Estate Attorney
Law Offices of Lloyd Granet, P.A.
2295 NW Corporate Boulevard, Suite 235
Boca Raton, FL 33431
Direct Dial: (561) 999-0090
Main Number: (561) 999-9300 x110
Fax: (561) 999-9400
Email: lgranet@granetlaw.com mailto:lgranet@granetlaw.com

NOTICE: IRS Circular 230 Disclosure: In order to ensure compliance with IRS Circular 230, we must inform you that any U.S. tax advice contained in this transmission and any attachments hereto is not intended or written to be used and may not be used by any person for the purpose of (i) avoiding any penalty that may be imposed by the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any tax-related matter(s) addressed herein.

NOTICE: This communication is: (a) sent by an attorney or his/her agent, (b) confidential, and (c) intended only for the use of the individual or entity to which it is addressed. If the addressee is a client, this communication is also subject to applicable privileges. If you are not the addressee, or the employee or agent responsible for the delivery to the addressee, any dissemination, distribution or copying of this communication is prohibited. If you received this communication in error: (a) any dissemination, distribution or copying is prohibited, and (b) Lloyd Granet, P.A. requests that you immediately notify us at (561) 999-9300 (collect) and destroy this communication. Thank you.

From: landten-bounces@lists.flabarrpptl.org mailto:landten-bounces@lists.flabarrpptl.org [mailto:landten-bounces@lists.flabarrpptl.org] On Behalf Of Arlene Udick
Sent: Tuesday, June 23, 2015 6:44 PM
To: RPPTL Landlord Tenant Committee
Subject: N-1003 - Landlord Tenant Committee: [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

[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.

--
The information contained in this transmission may be attorney/client
privileged and confidential. It is intended only for the use of the
individual or entity named above. If the reader of this message is not the
intended recipient, you are hereby notified that any dissemination,
distribution or copying of this communication is strictly prohibited. If
you have
received this communication in error, please notify us immediately by reply
e-mail.

Unless specifically indicated otherwise, any discussion of tax issues
contained in this e-mail, including any attachments, is not, and is not
intended to be, ''written advice'' as defined in Section 10.37 of Treasury
Department Circular 230.

A portion of our practice involves the collection of debt and any
information you provide will be used for that purpose if we are attempting
to collect a debt from you.

It seems that the option has been exercised and the parties would be governed by the contract. Unless the terms provide for a continuing option, I think that once it is exercised it has been used and no longer exists. One bite at the apple. David Weisman Board Certified Real Estate Lawyer Greenspoon Marder, P.A. 200 E. Broward Blvd., Suite 1800 Fort Lauderdale, FL 33301 Phone 954-491-1120 Ext. 1015 Direct Phone 954-343-6941 Direct Fax 954-343-6942 [cid:image006.jpg@01CF99C8.29DF4240] From: landten-bounces@lists.flabarrpptl.org [mailto:landten-bounces@lists.flabarrpptl.org] On Behalf Of Lloyd Granet Sent: Wednesday, June 24, 2015 7:39 AM To: RPPTL Landlord Tenant Committee Subject: Re: [RPPTL LandTen] N-1003 - Landlord Tenant Committee: Landlord tenant issue With the passage of time has the window to exercise the option lapsed? This email message was sent by: _________________________________________ Lloyd Granet | Board Certified Real Estate Attorney Law Offices of Lloyd Granet, P.A. 2295 NW Corporate Boulevard, Suite 235 Boca Raton, FL 33431 Direct Dial: (561) 999-0090 Main Number: (561) 999-9300 x110 Fax: (561) 999-9400 Email: lgranet@granetlaw.com<mailto:lgranet@granetlaw.com> NOTICE: IRS Circular 230 Disclosure: In order to ensure compliance with IRS Circular 230, we must inform you that any U.S. tax advice contained in this transmission and any attachments hereto is not intended or written to be used and may not be used by any person for the purpose of (i) avoiding any penalty that may be imposed by the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any tax-related matter(s) addressed herein. NOTICE: This communication is: (a) sent by an attorney or his/her agent, (b) confidential, and (c) intended only for the use of the individual or entity to which it is addressed. If the addressee is a client, this communication is also subject to applicable privileges. If you are not the addressee, or the employee or agent responsible for the delivery to the addressee, any dissemination, distribution or copying of this communication is prohibited. If you received this communication in error: (a) any dissemination, distribution or copying is prohibited, and (b) Lloyd Granet, P.A. requests that you immediately notify us at (561) 999-9300 (collect) and destroy this communication. Thank you. From: landten-bounces@lists.flabarrpptl.org<mailto:landten-bounces@lists.flabarrpptl.org> [mailto:landten-bounces@lists.flabarrpptl.org] On Behalf Of Arlene Udick Sent: Tuesday, June 23, 2015 6:44 PM To: RPPTL Landlord Tenant Committee Subject: N-1003 - Landlord Tenant Committee: [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 [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. -- The information contained in this transmission may be attorney/client privileged and confidential. It is intended only for the use of the individual or entity named above. If the reader of this message is not the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited. If you have received this communication in error, please notify us immediately by reply e-mail. Unless specifically indicated otherwise, any discussion of tax issues contained in this e-mail, including any attachments, is not, and is not intended to be, ''written advice'' as defined in Section 10.37 of Treasury Department Circular 230. A portion of our practice involves the collection of debt and any information you provide will be used for that purpose if we are attempting to collect a debt from you.

MD

Mike Davis

Wed, Jun 24, 2015 12:33 PM

When the parties signed the purchase contract, I think that they waived by mutual agreement (as shown by the signing of the purchase contract) any claim that the option wasn't properly exercised. The parties would be estopped to deny the option exercise and the purchase contract as the parties have changed their positions (extending closing for financing) in reliance upon the option exercise and purchase contract. Re-exercising the option leads to two purchase contracts unless the parties agree in writing that the first purchase contract is void.

I think that, after reviewing the purchase contract and its enforceability, you have to decide what's in your client's best interests: enforcing the purchase contract or mutually voiding it and starting all over.

Michael Geo. F. Davis
Attorney at Law
The MGFD Law Firm PA
Countryside Colonial Center
2753 SR 580, Suite 209
Clearwater, FL 33761-3351
P 727-726-1900
F 727-726-7440
mike@mgfdlaw.com
Primary Eservice: eservice@mgfdlaw.com

From: landten-bounces@lists.flabarrpptl.org [mailto:landten-bounces@lists.flabarrpptl.org] On Behalf Of David Weisman
Sent: Wednesday, June 24, 2015 8:26 AM
To: 'RPPTL Landlord Tenant Committee'
Subject: Re: [RPPTL LandTen] N-1003 - Landlord Tenant Committee: Landlord tenant issue

It seems that the option has been exercised and the parties would be governed by the contract. Unless the terms provide for a continuing option, I think that once it is exercised it has been used and no longer exists. One bite at the apple.

David Weisman
Board Certified Real Estate Lawyer
Greenspoon Marder, P.A.
200 E. Broward Blvd., Suite 1800
Fort Lauderdale, FL 33301
Phone 954-491-1120 Ext. 1015
Direct Phone 954-343-6941
Direct Fax 954-343-6942

[cid:image006.jpg@01CF99C8.29DF4240]

From: landten-bounces@lists.flabarrpptl.org mailto:landten-bounces@lists.flabarrpptl.org [mailto:landten-bounces@lists.flabarrpptl.org] On Behalf Of Lloyd Granet
Sent: Wednesday, June 24, 2015 7:39 AM
To: RPPTL Landlord Tenant Committee
Subject: Re: [RPPTL LandTen] N-1003 - Landlord Tenant Committee: Landlord tenant issue

With the passage of time has the window to exercise the option lapsed?

This email message was sent by:

Lloyd Granet | Board Certified Real Estate Attorney
Law Offices of Lloyd Granet, P.A.
2295 NW Corporate Boulevard, Suite 235
Boca Raton, FL 33431
Direct Dial: (561) 999-0090
Main Number: (561) 999-9300 x110
Fax: (561) 999-9400
Email: lgranet@granetlaw.com mailto:lgranet@granetlaw.com

NOTICE: IRS Circular 230 Disclosure: In order to ensure compliance with IRS Circular 230, we must inform you that any U.S. tax advice contained in this transmission and any attachments hereto is not intended or written to be used and may not be used by any person for the purpose of (i) avoiding any penalty that may be imposed by the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any tax-related matter(s) addressed herein.

NOTICE: This communication is: (a) sent by an attorney or his/her agent, (b) confidential, and (c) intended only for the use of the individual or entity to which it is addressed. If the addressee is a client, this communication is also subject to applicable privileges. If you are not the addressee, or the employee or agent responsible for the delivery to the addressee, any dissemination, distribution or copying of this communication is prohibited. If you received this communication in error: (a) any dissemination, distribution or copying is prohibited, and (b) Lloyd Granet, P.A. requests that you immediately notify us at (561) 999-9300 (collect) and destroy this communication. Thank you.

From: landten-bounces@lists.flabarrpptl.org mailto:landten-bounces@lists.flabarrpptl.org [mailto:landten-bounces@lists.flabarrpptl.org] On Behalf Of Arlene Udick
Sent: Tuesday, June 23, 2015 6:44 PM
To: RPPTL Landlord Tenant Committee
Subject: N-1003 - Landlord Tenant Committee: [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

[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.

The information contained in this transmission may be attorney/client privileged and confidential. It is intended only for the use of the individual or entity named above. If the reader of this message is not the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited. If you have
received this communication in error, please notify us immediately by reply e-mail.

Unless specifically indicated otherwise, any discussion of tax issues contained in this e-mail, including any attachments, is not, and is not intended to be, ''written advice'' as defined in Section 10.37 of Treasury Department Circular 230.

A portion of our practice involves the collection of debt and any information you provide will be used for that purpose if we are attempting to collect a debt from you.

When the parties signed the purchase contract, I think that they waived by mutual agreement (as shown by the signing of the purchase contract) any claim that the option wasn't properly exercised. The parties would be estopped to deny the option exercise and the purchase contract as the parties have changed their positions (extending closing for financing) in reliance upon the option exercise and purchase contract. Re-exercising the option leads to two purchase contracts unless the parties agree in writing that the first purchase contract is void. I think that, after reviewing the purchase contract and its enforceability, you have to decide what's in your client's best interests: enforcing the purchase contract or mutually voiding it and starting all over. Michael Geo. F. Davis Attorney at Law The MGFD Law Firm PA Countryside Colonial Center 2753 SR 580, Suite 209 Clearwater, FL 33761-3351 P 727-726-1900 F 727-726-7440 mike@mgfdlaw.com Primary Eservice: eservice@mgfdlaw.com From: landten-bounces@lists.flabarrpptl.org [mailto:landten-bounces@lists.flabarrpptl.org] On Behalf Of David Weisman Sent: Wednesday, June 24, 2015 8:26 AM To: 'RPPTL Landlord Tenant Committee' Subject: Re: [RPPTL LandTen] N-1003 - Landlord Tenant Committee: Landlord tenant issue It seems that the option has been exercised and the parties would be governed by the contract. Unless the terms provide for a continuing option, I think that once it is exercised it has been used and no longer exists. One bite at the apple. David Weisman Board Certified Real Estate Lawyer Greenspoon Marder, P.A. 200 E. Broward Blvd., Suite 1800 Fort Lauderdale, FL 33301 Phone 954-491-1120 Ext. 1015 Direct Phone 954-343-6941 Direct Fax 954-343-6942 [cid:image006.jpg@01CF99C8.29DF4240] From: landten-bounces@lists.flabarrpptl.org<mailto:landten-bounces@lists.flabarrpptl.org> [mailto:landten-bounces@lists.flabarrpptl.org] On Behalf Of Lloyd Granet Sent: Wednesday, June 24, 2015 7:39 AM To: RPPTL Landlord Tenant Committee Subject: Re: [RPPTL LandTen] N-1003 - Landlord Tenant Committee: Landlord tenant issue With the passage of time has the window to exercise the option lapsed? This email message was sent by: _________________________________________ Lloyd Granet | Board Certified Real Estate Attorney Law Offices of Lloyd Granet, P.A. 2295 NW Corporate Boulevard, Suite 235 Boca Raton, FL 33431 Direct Dial: (561) 999-0090 Main Number: (561) 999-9300 x110 Fax: (561) 999-9400 Email: lgranet@granetlaw.com<mailto:lgranet@granetlaw.com> NOTICE: IRS Circular 230 Disclosure: In order to ensure compliance with IRS Circular 230, we must inform you that any U.S. tax advice contained in this transmission and any attachments hereto is not intended or written to be used and may not be used by any person for the purpose of (i) avoiding any penalty that may be imposed by the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any tax-related matter(s) addressed herein. NOTICE: This communication is: (a) sent by an attorney or his/her agent, (b) confidential, and (c) intended only for the use of the individual or entity to which it is addressed. If the addressee is a client, this communication is also subject to applicable privileges. If you are not the addressee, or the employee or agent responsible for the delivery to the addressee, any dissemination, distribution or copying of this communication is prohibited. If you received this communication in error: (a) any dissemination, distribution or copying is prohibited, and (b) Lloyd Granet, P.A. requests that you immediately notify us at (561) 999-9300 (collect) and destroy this communication. Thank you. From: landten-bounces@lists.flabarrpptl.org<mailto:landten-bounces@lists.flabarrpptl.org> [mailto:landten-bounces@lists.flabarrpptl.org] On Behalf Of Arlene Udick Sent: Tuesday, June 23, 2015 6:44 PM To: RPPTL Landlord Tenant Committee Subject: N-1003 - Landlord Tenant Committee: [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 [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. The information contained in this transmission may be attorney/client privileged and confidential. It is intended only for the use of the individual or entity named above. If the reader of this message is not the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited. If you have received this communication in error, please notify us immediately by reply e-mail. Unless specifically indicated otherwise, any discussion of tax issues contained in this e-mail, including any attachments, is not, and is not intended to be, ''written advice'' as defined in Section 10.37 of Treasury Department Circular 230. A portion of our practice involves the collection of debt and any information you provide will be used for that purpose if we are attempting to collect a debt from you.

AG

Andrew Garofalo

Wed, Jun 24, 2015 12:33 PM

It appears to me the option has not been exercised. Instead a separate
offer to purchase was extended by buyer one month early before the option
could be exercised and the parties entered into negotiations. Unless there
was a cover letter from buyer saying the option was being exercised a month
early than allowed and seller agreed to that by working on the agreement.

Sent from my mobile device.
On Jun 24, 2015 8:26 AM, "David Weisman" David.Weisman@gmlaw.com wrote:

It seems that the option has been exercised and the parties would be
governed by the contract. Unless the terms provide for a continuing option,
I think that once it is exercised it has been used and no longer exists.
One bite at the apple.

David Weisman

Board Certified Real Estate Lawyer

Greenspoon Marder, P.A.

200 E. Broward Blvd., Suite 1800

Fort Lauderdale, FL 33301

Phone 954-491-1120 Ext. 1015

Direct Phone 954-343-6941

Direct Fax 954-343-6942

[image: cid:image006.jpg@01CF99C8.29DF4240]

From: landten-bounces@lists.flabarrpptl.org [mailto:
landten-bounces@lists.flabarrpptl.org] *On Behalf Of *Lloyd Granet
Sent: Wednesday, June 24, 2015 7:39 AM
To: RPPTL Landlord Tenant Committee
Subject: Re: [RPPTL LandTen] N-1003 - Landlord Tenant Committee:
Landlord tenant issue

With the passage of time has the window to exercise the option lapsed?

This email message was sent by:

Lloyd Granet | Board Certified Real Estate Attorney
Law Offices of Lloyd Granet, P.A.
2295 NW Corporate Boulevard, Suite 235
Boca Raton, FL 33431
Direct Dial: (561) 999-0090
Main Number: (561) 999-9300 x110
Fax: (561) 999-9400
Email: lgranet@granetlaw.com

NOTICE: IRS Circular 230 Disclosure: In order to ensure compliance with
IRS Circular 230, we must inform you that any U.S. tax advice contained in
this transmission and any attachments hereto is not intended or written to
be used and may not be used by any person for the purpose of (i) avoiding
any penalty that may be imposed by the Internal Revenue Code or (ii)
promoting, marketing or recommending to another party any tax-related
matter(s) addressed herein.

NOTICE: This communication is: (a) sent by an attorney or his/her agent,
(b) confidential, and (c) intended only for the use of the individual or
entity to which it is addressed. If the addressee is a client, this
communication is also subject to applicable privileges. If you are not the
addressee, or the employee or agent responsible for the delivery to the
addressee, any dissemination, distribution or copying of this communication
is prohibited. If you received this communication in error: (a) any
dissemination, distribution or copying is prohibited, and (b) Lloyd Granet,
P.A. requests that you immediately notify us at (561) 999-9300 (collect)
and destroy this communication. Thank you.

From: landten-bounces@lists.flabarrpptl.org [
mailto:landten-bounces@lists.flabarrpptl.org
landten-bounces@lists.flabarrpptl.org] *On Behalf Of *Arlene Udick
Sent: Tuesday, June 23, 2015 6:44 PM
To: RPPTL Landlord Tenant Committee
Subject: N-1003 - Landlord Tenant Committee: [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

[image: Udick Law Logo_sig]

Arlene C. Udick, Esq.

(p) 352-391-1888 <352-391-1888>

(c) 352-217-3176 <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.

The information contained in this transmission may be attorney/client
privileged and confidential. It is intended only for the use of the
individual or entity named above. If the reader of this message is not the
intended recipient, you are hereby notified that any dissemination,
distribution or copying of this communication is strictly prohibited. If
you have
received this communication in error, please notify us immediately by
reply e-mail.

Unless specifically indicated otherwise, any discussion of tax issues
contained in this e-mail, including any attachments, is not, and is not
intended to be, ''written advice'' as defined in Section 10.37 of Treasury
Department Circular 230.

A portion of our practice involves the collection of debt and any
information you provide will be used for that purpose if we are attempting
to collect a debt from you.

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

It appears to me the option has not been exercised. Instead a separate offer to purchase was extended by buyer one month early before the option could be exercised and the parties entered into negotiations. Unless there was a cover letter from buyer saying the option was being exercised a month early than allowed and seller agreed to that by working on the agreement. Sent from my mobile device. On Jun 24, 2015 8:26 AM, "David Weisman" <David.Weisman@gmlaw.com> wrote: > It seems that the option has been exercised and the parties would be > governed by the contract. Unless the terms provide for a continuing option, > I think that once it is exercised it has been used and no longer exists. > One bite at the apple. > > > > *David Weisman* > > Board Certified Real Estate Lawyer > > Greenspoon Marder, P.A. > > 200 E. Broward Blvd., Suite 1800 > > Fort Lauderdale, FL 33301 > > Phone 954-491-1120 *Ext. 1015* > > Direct Phone 954-343-6941 > > Direct Fax 954-343-6942 > > > > [image: cid:image006.jpg@01CF99C8.29DF4240] > > > > *From:* landten-bounces@lists.flabarrpptl.org [mailto: > landten-bounces@lists.flabarrpptl.org] *On Behalf Of *Lloyd Granet > *Sent:* Wednesday, June 24, 2015 7:39 AM > *To:* RPPTL Landlord Tenant Committee > *Subject:* Re: [RPPTL LandTen] N-1003 - Landlord Tenant Committee: > Landlord tenant issue > > > > With the passage of time has the window to exercise the option lapsed? > > > > This email message was sent by: > _________________________________________ > *Lloyd Granet* | Board Certified Real Estate Attorney > Law Offices of Lloyd Granet, P.A. > 2295 NW Corporate Boulevard, Suite 235 > Boca Raton, FL 33431 > Direct Dial: (561) 999-0090 > Main Number: (561) 999-9300 x110 > Fax: (561) 999-9400 > Email: lgranet@granetlaw.com > > NOTICE: IRS Circular 230 Disclosure: In order to ensure compliance with > IRS Circular 230, we must inform you that any U.S. tax advice contained in > this transmission and any attachments hereto is not intended or written to > be used and may not be used by any person for the purpose of (i) avoiding > any penalty that may be imposed by the Internal Revenue Code or (ii) > promoting, marketing or recommending to another party any tax-related > matter(s) addressed herein. > > NOTICE: This communication is: (a) sent by an attorney or his/her agent, > (b) confidential, and (c) intended only for the use of the individual or > entity to which it is addressed. If the addressee is a client, this > communication is also subject to applicable privileges. If you are not the > addressee, or the employee or agent responsible for the delivery to the > addressee, any dissemination, distribution or copying of this communication > is prohibited. If you received this communication in error: (a) any > dissemination, distribution or copying is prohibited, and (b) Lloyd Granet, > P.A. requests that you immediately notify us at (561) 999-9300 (collect) > and destroy this communication. Thank you. > > > > > > *From:* landten-bounces@lists.flabarrpptl.org [ > mailto:landten-bounces@lists.flabarrpptl.org > <landten-bounces@lists.flabarrpptl.org>] *On Behalf Of *Arlene Udick > *Sent:* Tuesday, June 23, 2015 6:44 PM > *To:* RPPTL Landlord Tenant Committee > *Subject:* N-1003 - Landlord Tenant Committee: [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 > > > > [image: Udick Law Logo_sig] > > *Arlene C. Udick, Esq.* > > *(p) 352-391-1888 <352-391-1888>* > > *(c) 352-217-3176 <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. > > > > The information contained in this transmission may be attorney/client > privileged and confidential. It is intended only for the use of the > individual or entity named above. If the reader of this message is not the > intended recipient, you are hereby notified that any dissemination, > distribution or copying of this communication is strictly prohibited. If > you have > received this communication in error, please notify us immediately by > reply e-mail. > > Unless specifically indicated otherwise, any discussion of tax issues > contained in this e-mail, including any attachments, is not, and is not > intended to be, ''written advice'' as defined in Section 10.37 of Treasury > Department Circular 230. > > A portion of our practice involves the collection of debt and any > information you provide will be used for that purpose if we are attempting > to collect a debt from you. > > _______________________________________________ > landten mailing list > landten@lists.flabarrpptl.org > http://mailman.fsr.com/mailman/listinfo/landten >

AU

Arlene Udick

Wed, Jun 24, 2015 1:24 PM

We are in month 3 of the 6 month option.

[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.

From: landten-bounces@lists.flabarrpptl.org [mailto:landten-bounces@lists.flabarrpptl.org] On Behalf Of Lloyd Granet
Sent: Wednesday, June 24, 2015 7:39 AM
To: RPPTL Landlord Tenant Committee
Subject: Re: [RPPTL LandTen] N-1003 - Landlord Tenant Committee: Landlord tenant issue

With the passage of time has the window to exercise the option lapsed?

This email message was sent by:

Lloyd Granet | Board Certified Real Estate Attorney
Law Offices of Lloyd Granet, P.A.
2295 NW Corporate Boulevard, Suite 235
Boca Raton, FL 33431
Direct Dial: (561) 999-0090
Main Number: (561) 999-9300 x110
Fax: (561) 999-9400
Email: lgranet@granetlaw.com mailto:lgranet@granetlaw.com

NOTICE: IRS Circular 230 Disclosure: In order to ensure compliance with IRS Circular 230, we must inform you that any U.S. tax advice contained in this transmission and any attachments hereto is not intended or written to be used and may not be used by any person for the purpose of (i) avoiding any penalty that may be imposed by the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any tax-related matter(s) addressed herein.

NOTICE: This communication is: (a) sent by an attorney or his/her agent, (b) confidential, and (c) intended only for the use of the individual or entity to which it is addressed. If the addressee is a client, this communication is also subject to applicable privileges. If you are not the addressee, or the employee or agent responsible for the delivery to the addressee, any dissemination, distribution or copying of this communication is prohibited. If you received this communication in error: (a) any dissemination, distribution or copying is prohibited, and (b) Lloyd Granet, P.A. requests that you immediately notify us at (561) 999-9300 (collect) and destroy this communication. Thank you.

From: landten-bounces@lists.flabarrpptl.org mailto:landten-bounces@lists.flabarrpptl.org [mailto:landten-bounces@lists.flabarrpptl.org] On Behalf Of Arlene Udick
Sent: Tuesday, June 23, 2015 6:44 PM
To: RPPTL Landlord Tenant Committee
Subject: N-1003 - Landlord Tenant Committee: [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

[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.

We are in month 3 of the 6 month option. [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. From: landten-bounces@lists.flabarrpptl.org [mailto:landten-bounces@lists.flabarrpptl.org] On Behalf Of Lloyd Granet Sent: Wednesday, June 24, 2015 7:39 AM To: RPPTL Landlord Tenant Committee Subject: Re: [RPPTL LandTen] N-1003 - Landlord Tenant Committee: Landlord tenant issue With the passage of time has the window to exercise the option lapsed? This email message was sent by: _________________________________________ Lloyd Granet | Board Certified Real Estate Attorney Law Offices of Lloyd Granet, P.A. 2295 NW Corporate Boulevard, Suite 235 Boca Raton, FL 33431 Direct Dial: (561) 999-0090 Main Number: (561) 999-9300 x110 Fax: (561) 999-9400 Email: lgranet@granetlaw.com<mailto:lgranet@granetlaw.com> NOTICE: IRS Circular 230 Disclosure: In order to ensure compliance with IRS Circular 230, we must inform you that any U.S. tax advice contained in this transmission and any attachments hereto is not intended or written to be used and may not be used by any person for the purpose of (i) avoiding any penalty that may be imposed by the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any tax-related matter(s) addressed herein. NOTICE: This communication is: (a) sent by an attorney or his/her agent, (b) confidential, and (c) intended only for the use of the individual or entity to which it is addressed. If the addressee is a client, this communication is also subject to applicable privileges. If you are not the addressee, or the employee or agent responsible for the delivery to the addressee, any dissemination, distribution or copying of this communication is prohibited. If you received this communication in error: (a) any dissemination, distribution or copying is prohibited, and (b) Lloyd Granet, P.A. requests that you immediately notify us at (561) 999-9300 (collect) and destroy this communication. Thank you. From: landten-bounces@lists.flabarrpptl.org<mailto:landten-bounces@lists.flabarrpptl.org> [mailto:landten-bounces@lists.flabarrpptl.org] On Behalf Of Arlene Udick Sent: Tuesday, June 23, 2015 6:44 PM To: RPPTL Landlord Tenant Committee Subject: N-1003 - Landlord Tenant Committee: [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 [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.