47-119. Form of memorandum for option to purchase real estate.
An option to purchase real estate may be registered by registering a memorandum thereof which shall set forth:
(1) The names of the parties thereto;
(2) A description of the property which is subject to the option;
(3) The expiration date of the option;
(4) Reference sufficient to identify the complete agreement between the parties.
Such a memorandum may be in substantially the following form:
| NORTH CAROLINA |
| __________________ COUNTY |
In consideration of , the receipt__________________________________________________
| (Set out consideration) | |
| of which is hereby acknowledged, __________________________________________________ | |
| (Name and address of person selling option) | |
| does hereby give and grant to _____________________________________________________ | |
| (Name and address of person buying option) | |
| the right and option to purchase the following property: | |
| (Here describe property) |
This option shall expire on the ________ day of ________________, ______.
The provisions set forth in a written option agreement between the parties dated the ________ day of _______________, _______, are hereby incorporated in this memorandum.
Witness our hand(s) and seal(s) this _______ day of ______________, ______
| _____________________________________ (Seal) | |
| _____________________________________ (Seal) |