David Saks: July 2011

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Real Estate Practice : Lesson 1237

                                                         #1237

If an option to purchase real estate has been recorded but has never been worked out, the option may always be reverted to a form of protection or collateral for a new loan.

Is this true or false ?

Take your time. The solution is posted below the wildlife photo.

wildlife

A. False

If the option is recorded and has never been carried out it creates a cloud on the title and may only be cleared by obtaining a release from the optionee.




David Saks



Time&Temp Memphis

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Comment balloon 0 commentsDavid Saks • July 25 2011 01:30AM
Real Estate Practice : Lesson 1237
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#1237 If an option to purchase real estate has been recorded but has never been worked out, the option may always be reverted to a form of protection or collateral for a new loan. … more
Real Estate Practice : Lesson 1236
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