Option Agreement Nz – Doubleshotta.com

When using these model agreements, the following should be taken into account: any infringement decision depends on the nature of the disagreement and the remedies envisaged. For example, the injured party may receive compensation for the loss suffered or the defaulting party may be ordered to perform its obligations under the contract. As mentioned above, a call option gives the tenant a proper interest in the land. This is a reserved interest and is binding on the beneficiaries and is usually triggered by a notification from the tenants about the exercise of the option. This is probably an advantage for a tenant, since his rights are maintained despite a passage to the owner / owner and each new owner takes over the property subject to these pre-emption rights. Sometimes these rights can slip undetected, especially when pre-emption rights are documented outside the rental agreement or if no reservation is written on the title.. . . .