Option to Purchase Real Property

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					                                Option to Purchase Real Property

       Agreement made on the (date), between (Name of Buyer) of (street address, city,
county, state, zip code), referred to herein as Buyer, and (Name of Seller), of (street address,

        In consideration of $____________ paid to (name of Seller), of (street address, city,
county, state, zip code), receipt of which is acknowledged, Seller gives and grants to (name of
Buyer), of (street address, city, county, state, zip code), the exclusive option to purchase that
certain real property (the Property) described in Exhibit A attached hereto and made a part
hereof, together with the buildings and all other improvements on the Property, including all
easements, rights of way, and appurtenances, and all of Seller's right, title, and interest in all
public ways adjoining the Property.

1.     Price and Terms of Payment
       The purchase price for the Property shall be $________________, which shall be paid,
on exercise of this option by Buyer, as follows: (terms of payment).

2.      Period of Option and Extension
        This option may be exercised by giving notice of exercise to Seller at the above address
of Seller, at any time during the primary period from the date of this instrument until (time of
day), on (date of expiration); or during the extension period, if the option is extended as
provided below, until (time of day), on (date of end of extension period). The option may be so
extended by Buyer giving Seller written notice of extension prior to the termination of the
primary period, and paying to Seller at the time of
Description: An option is essentially a unilateral offer given by the owner to the offeree for a definite period of time and supported by consideration. An option does not result in any obligation on the part of the prospective Buyer until and unless the offer is accepted prior to its expiration.
PARTNER William Glover
I received my B.B.A. from the University of Mississippi in 1973 and my J.D. from the University of Mississippi School of Law in 1976. I joined the firm of Wells Marble & Hurst in May 1976 as an Associate and became a Partner in 1979. While at Wells, I supervised all major real estate commercial loan transactions as well as major employment law cases. My practice also involved estate administration and general commercial law. I joined the faculty of Belhaven College, in Jackson, MS, in 1996 as Assistant Professor of Business Administration and College Attorney. While at Belhaven I taught Business Law and Business Ethics in the BBA and MBA programs; Judicial Process and Constitutional Law History for Political Science Department); and Sports Law for the Department of Sports Administration. I am now on the staff of US Legal Forms, Inc., and drafts forms, legal digests, and legal summaries. I am a LTC and was Staff Judge Advocate for the Mississippi State Guard from 2004-2008. I now serve as the Commanding Officer of the 220th MP BN at Camp McCain near Grenada, MS. I served on active duty during Hurricanes Dennis (July, 2005), Katrina (August, 2005) and Gustav in 2008. I played football at the University of Mississippi in 1969-1971 under Coach John Vaught. I am the author of the Sports Law Book (For Coaches and Administrators) and the Sports Law Handbook for Coaches and Administrators (with Legal Forms),