Did A Lease Amendment Terminate The Tenant’s Option to Buy Real Estate?
When does an offer become a binding option to purchase real estate? Under Florida law, a binding option to purchase real estate requires money to support it – otherwise, it is just considered an offer and can be withdrawn or revoked at any time. Case review: Laroche v. Nehama, 979 So. 2d 1021 (Fla. Dist. Ct. App. 2008) A muddled option agreement In LaRoche, Claude LaRoche offered to lease his home to Francois Nehama. The lease was a two-year agreement, with a required security deposit and first month’s rent due at the signing. LaRoche offered Nehama the option to purchase the house after the...Continue reading