Posted by randyOH on August 26, 2003 at 20:52:12:
I think most options in L/O deals (including mine)contain a clause stating that the option agreement is void if the t/b violates any provision of the lease.
But I think you have touched on sensitive issue. Having such a clause in the option agreement probably makes the arrangement vulnerable to a recharacterization as a land contract.
My lawyer tells me that our local court automatically recharacterizes any lease/option as a land contract.