Legal Question in Real Estate Law in Florida

Lease agreement with option to purchase

I have a lease agreement with option to purchase that expired June 30, 2007 (Saterday). Do I have the legal right to Close on the property Monday July 2, 2007, because Saterday is not a business day?


Asked on 7/01/07, 4:28 pm

2 Answers from Attorneys

Scott R. Jay Law Offices of Scott R. Jay

Re: Lease agreement with option to purchase

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

Without reviewing your agreement, it is impossible to say. Most lease options have a date in which you must notify the other party you wish to exercise it. If you failed to exercise the option within the timeframe, it may be too late.

You should meet with a qualified attorney and have the lease agreement reviewed. Your attorney can then advise you of your rights and responsibilities.

Scott R. Jay, Esq.

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Answered on 7/03/07, 1:25 am
Michael Stewart Michael D. Stewart

Re: Lease agreement with option to purchase

Did you "exercise your option" - inform them according to the contract that you will buy the property, prior to the expiration of the option?

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Answered on 7/05/07, 9:51 am


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