N.C. Gen. Stat. § 47-119
Memorandum for option to purchase or convey, right of first refusal, or right of first offer for real estate
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
An option to purchase real estate may be registered by registering a memorandum thereof which shall set forth:
An option to purchase real estate may be registered by registering a memorandum thereof which shall set forth:
(1) The names of the parties thereto;
(1) The names of the parties thereto;
(2) A description of the property which is subject to the option;
(2) A description of the property which is subject to the option;
(3) The expiration date of the option;
(3) The expiration date of the option;
(4) Reference sufficient to identify the complete agreement between the parties.
(4) Reference sufficient to identify the complete agreement between the parties.
Such a memorandum may be in substantially the following form:
Such a memorandum may be in substantially the following form:
NORTH CAROLINA __________________ COUNTY In consideration of ____________________________________________________, (Set out consideration) the receipt of which is hereby acknowledged, _________________________________ (Name and address of person selling option) does hereby give and grant to ________________________________________________ (Name and address of person buying option) the right and option to purchase the following property: (Here describe property) This option shall expire on the ________ day of ______________, ________. The provisions set forth in a written option agreement between the parties dated the ________ day of ______________, ________, are hereby incorporated in this memorandum. Witness our hand(s) and seal(s) this ________ day of ________, ________ _____________________________________________________________ (Seal) _____________________________________________________________ (Seal)
NORTH CAROLINA COUNTY In consideration of, (Set out consideration) the receipt of which is hereby acknowledged, (Name and address of person selling option) does hereby give and grant to (Name and address of person buying option) the right and option to purchase the following property: (Here describe property) This option shall expire on the day of,. The provisions set forth in a written option agreement between the parties dated the day of,, are hereby incorporated in this memorandum. Witness our hand(s) and seal(s) this day of, [Seal] (Lessor) [Seal] (Lessor)
History
(1961, c. 1174; 1999-456, s. 59.)
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.