§ 47-119. Form of memorandum for option to purchase real estate. - North Carolina Statutes

§47‑119.  Form of memorandum for option to purchase real estate.

An option to purchase realestate may be registered by registering a memorandum thereof which shall setforth:

(1)        The names of theparties thereto;

(2)        A description of theproperty which is subject to the option;

(3)        The expiration dateof the option;

(4)        Reference sufficientto identify the complete agreement between the parties.

Such a memorandum may be insubstantially the following form:

NORTH CAROLINA

__________________ COUNTY

In consideration of , thereceipt___________________________________________________

                                                                                    (Setout consideration)

of which is hereby acknowledged, ___________________________________________________

                                                                     (Nameand address of person selling option)

does hereby give and grant to _______________________________________________________

(Nameand address of person buying option)

the right and option to purchasethe following property:

(Here describe property)

This option shall expire onthe ________ day of ________________, ______.

The provisions set forth in awritten option agreement between the parties dated the ________ day of_______________, _______, are hereby incorporated in this memorandum.

Witness our hand(s) andseal(s) this _______ day of ______________, ______

                                                                        _____________________________________ (Seal)

                                                                        _____________________________________ (Seal)

 (1961, c. 1174; 1999‑456, s. 59.)