Option to Purchase Land | Canada

Grant a tenant, a developer or other party an option to purchase a section of land with this downloadable template for Canada.

• The purchase price will include all permanent fixtures on the land.
• The vendor has the right to register a covenant restricting the use of the land, which the purchaser must agree to and abide by.
• The purchaser has the right to register a caveat on the title as public notice of its purchase option.
• The purchaser can exercise the option for all or just part of the optioned land.
• The option is irrevocable, meaning the vendor cannot revoke it until the option period has expired.
• The Option to Purchase Land form does not refer specifically to provincial laws and can be easily modified for use in most Canadian provinces and territories (Quebec excluded).
• This is a Microsoft Word document that is available for download immediately after you buy it.