Notice of Exercise of Option to Purchase Property

This Notice of Exercise of Option to Purchase Property is to a property owner from an option holder setting forth that they will exercise their option to purchase the property. This notice sets out the names of the parties and a description of the property to be purchased. It also authorizes the owner to transfer title to the option holder(s). It is imperative that this type of transaction be set out in writing rather than by oral agreement. A written Notice of Exercise of Option to Purchase Property will be useful in the event there are disagreements or misunderstandings about the property purchase. (continued ...)