End of Memorandum of Option - Posted by Abram Miller


#1

Posted by Tom Brown on December 29, 1998 at 08:06:29:

Me thinks you answered your own question. You’re so smart. (Quit Claim)


#2

End of Memorandum of Option - Posted by Abram Miller

Posted by Abram Miller on December 28, 1998 at 21:32:02:

I read that a memorandum of option should be recorded,
rather than the actual option. How is this later canceled?
(a) if the original optionee completes the purchase, the
closing probably suffices to end the memo. BUT,
(b) if the option is assigned, or © allowed to expire,
how is this cloud on title removed for the old or new owner?
[I recall that an ordinary Notice of Interest can be canceled by means of a Quit Claim Deed.]