Why a Straight Real Estate Option Agreement Is Not an Executory Contract

An executory contract is generally defined as: "a contract where both parties have an obligation to perform in the future." And state and federal courts nationwide have traditionally held the view that straight or naked real estate options are unilateral contracts, under which the obligation to perform rests solely on the op-tionor, while the optionee is under no obligation to do anything whatsoever. The only notable exception to this is when an option agreement is included in a federal bankruptcy petition and the optionee has notified the optionor of his or her intention to exercise the option prior to the bankruptcy petition being filed.

Real Estate 101

Real Estate 101

This book makes it easy to not only buy a home, but figure out everything that you need to do, even get a loan. In simple and easy to understand language, it talks about where you should buy a home, what to look for in a home, how to find a home, how to get an agent, how to get a mortgage and more. This is a step by step process that you, a new home buyer, can use to purchase a home.

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