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