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Options in commercial real estate transactions give the option holder more time to conduct due diligence, obtain financing and any necessary governmental approvals, and consider whether the transaction is truly viable. The property owner, whose land is optioned, loses the right to sell the property to a third party for the duration of the option, but earns a fee for doing so. In a world of complex and risky commercial real estate transactions, where time is often of the essence and risk is high, options allow developers, investors and others an effective mechanism to buy time and take a wait-and-see-approach. This program will provide you with a practical guide to drafting essential provisions of options in commercial real estate transactions, including avoiding costly traps.
Handout Materials will be emailed to you prior to the seminar
1.0 MCLE Credit Hours
Anthony Licata,Taft Stettinius & Hollister LLP – Chicago