Lessee Intends To, And Hereby Do Exercise The Option To Purchase The Premises Form
Use a Lessee Intends To, And Hereby Do Exercise The Option To Purchase The Premises template to make your document workflow more streamlined.
What this option exercise form does
This form is the lessee’s written notice that they intend to exercise a contractual option to purchase the leased premises. It identifies the property, lease, parties, exercise date, and purchase terms stated in the underlying agreement. The lessee should complete it exactly as the lease requires, deliver it before the option deadline, and retain proof of receipt. signNow can capture electronic signatures, timestamps, and an audit trail, but it does not determine whether the option is valid, extend a deadline, transfer title, or replace state-required notarization, witnesses, or recording.
Who uses the option exercise form
The form is used by parties and advisers managing a lease-based purchase option, especially when timing, delivery, and evidence matter.
Real estate brokerages use the form to document a lessee’s purchase election, coordinate lessor review, and preserve the signed notice with the lease and property file. Commercial landlords and tenants use it to establish the exercise date, identify the premises, and preserve electronic evidence before counsel handles deed preparation or recording. Property counsel and transaction administrators use signNow templates, role-based access, and audit trails to route the notice without changing negotiated option terms.
These tasks are executed by both individual contributors and centralized administrators depending on organizational policy and required controls.
Recommended setup for option exercise
Configure the workflow around the lessee’s notice, the lessor’s receipt, property-specific deadlines, and a reproducible signed record.
| Setting | Recommendation |
|---|---|
| Authentication method | Email link with SMS OTP |
| Signature type | Typed or drawn electronic signature |
| Audit trail | Export certificate with completed PDF |
| Document retention | Three years from filing under IRC §6501(a) |
| Encryption | TLS 1.2/1.3 and AES-256 at rest |
Complete the option exercise form
Follow this sequence to prepare, sign, deliver, and preserve the lessee’s written exercise of the purchase option.
Upload documents:
Upload the completed option exercise form and lease exhibits. Check fields:
Review detected fields, then add lessee and lessor signers. Send notice:
Set signing order and send the notice electronically. Preserve evidence:
Download the signed PDF and audit trail for records.
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How the option audit trail is captured
The audit trail records the electronic events that support the lessee’s signed notice and later review of delivery and execution evidence.
Authenticate signer:
Record timestamp:
Hash document:
Seal record:
Create certificate:
Export evidence:
Security for the signed option record
Transport encryption:
Storage encryption:
Security certification:
Information security:
Electronic signatures:
Protected health information:
Record-keeping practices for option exercise
Preserve the signed option exercise, supporting lease documents, delivery evidence, and audit trail according to the transaction’s legal and business requirements.
Apply the applicable federal retention period
Export the audit trail with the signed document
Archive records in a controlled repository
Index the option exercise record
Retention periods for option records
Apply the retention rule that actually governs the transaction, and check state property-record requirements before deleting the executed option notice.
Three years: federal tax records
Six years: substantial understatement
Indefinite: fraud or no return
Six years: HIPAA records
State law: longer periods
State-law and document limits
Required acknowledgment
No title transfer
Missed notice deadline
Inconsistent contract terms
Legal standing of the signed notice
A completed option exercise can provide evidence of the lessee’s stated intent when the parties demonstrate intent, consent, attribution, and record retention under ESIGN, 15 U.S.C. ch. 96, and applicable UETA or New York ESRA rules. It does not replace deeds, wills, court filings, family-law decrees, or required notarization.
Troubleshooting the option exercise form
Resolve the named signing, retention, and property-document issues before treating the lessee’s option exercise as complete.
Upload the final lease-option document as a PDF and review signNow’s field detection before sending. Business includes templates and audit trails, while Business Premium adds bulk send; neither plan verifies property terms, option deadlines, or state-law notice requirements.
Use signNow’s audit trail to document signer identity, timestamps, IP information, and signing actions. ESIGN and UETA support electronic signatures when intent, consent, attribution, and record retention are established; they do not replace a state-law notarization or recording requirement.
A signNow Business subscription is listed at $8 per user per month with annual billing, while Business Premium is $15 and Enterprise is $30. Subscription plans include 100 signature invites per user annually; additional invites may incur overage fees.
If the lessor cannot open the completed option form, download the signed PDF and certificate of completion from signNow, then send the files through an approved channel. Confirm that the recipient has access to the electronic record and can reproduce it unchanged.
For a consumer-facing transaction, provide the ESIGN disclosure, explain the right to receive paper records, confirm electronic access, and explain consent withdrawal procedures under 15 U.S.C. §7001(c). signNow can capture the electronic workflow, but the parties remain responsible for disclosure compliance.
A signed option exercise does not itself transfer title. Real-estate deeds generally require acknowledgment before recording, and requirements vary by state. Complete the option notice through signNow only when electronic execution is legally suitable, then obtain required notarization, witnesses, or recording separately.
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