A right of pre-emption means a right of priority over any other buyer. The granting of an option is not the acquisition of a larger interest. A real estate option agreement per se should therefore not be overlooked by turnover, unless there is a transaction tax to be paid. A pre-emption right should be registered to inform potential naders or tenants. If the right is not registered and the landowner sells to a third party who pays for the land and knows nothing about the pre-purchase agreement, the new owner is not bound to it. The agreement must be clear as to the areas subject to the legislation. There are two main types of option agreements: a call option (in which the buyer may require the landowner to sell land to him) and a put option (where a landowner can ask a buyer to buy land). It is rare to see a stand-alone put option, but it is often combined with call options, so any party can require the other transaction to be completed, but neither is obligated to leave if they both decide to leave. The owner can exercise the option and then want to build his houses himself, or he can sell to a third party without finding the money.
As a result, option agreements often contain extensive and sometimes complex provisions on billing conditions when the option is exercised. Then you can learn about buying land with options or strategies when using options agreements. People who buy and sell land often take advantage of the opportunity to purchase contracts or pre-emption agreements to force the other party to sell. The two chords may seem similar, but they are actually very different. A right of pre-emption entails a contractual relationship between the parties. If the landowner decides not to sell, the right of pre-emption can never be exercised. To ensure that a right of pre-emption is more than a vague promise, the scheme must be properly documented and it is essential that it be protected by registration (with restriction) in the land registry. A pre-emption contract gives a company or person a right of pre-emption if the owner decides to sell the land. However, an option contract generally gives a company or a person the right to demand that the landowner sell the land to the landowner.
Often, the law only applies for a period set by the treaty.