Posted by NAte(DC) on July 02, 2002 at 10:04:21:
The only thing you’d have to be careful of is that the option was drafted correctly. A typical “option” contract is exercisable anytime after it is signed. You would need to make sure that the sub-lessee’s option from you is not exercisable for the first 12 months, because you might not own the property then.
Or you could just make their option contingent on you acquiring title to the property.