Lease Option Memo Form

Use a Lease Option Memo 0 template to make your document workflow more streamlined.

What a lease option memo does

A Lease Option Memo Form records the parties’ agreed lease-option terms for a specific property and transaction. It commonly identifies the landlord, tenant, premises, rent, option consideration, deposit, exercise period, and signatures, although the exact fields depend on the version used. In signNow, the sender uploads the memo, reviews fillable fields, assigns each field to the correct party, and sends it for electronic completion. The completed PDF and audit trail preserve the signed terms for the property file. State law may impose additional requirements.

How a lease option memo works

The signNow workflow moves the Lease Option Memo Form from upload to verified field completion, signing, and evidence preservation.

Upload memo: Upload the Lease Option Memo Form to signNow.
Check fields: Review detected fields and add missing lease fields.
Send requests: Assign parties, then send signing requests.
Archive record: Collect signatures and store the completed evidence.

Complete a lease option memo

Follow these steps to turn a property-specific Lease Option Memo Form into a completed, auditable signNow record.

Upload memo:
Upload the Lease Option Memo Form.
Verify fields:
Review and correct detected fields.
Assign parties:
Assign landlord and tenant roles.
Send request:
Send the signing request.
Save evidence:
Download the signed record.

Authenticate signer:

Records the signer’s email, authentication method, and completed identity challenge.

Capture timestamps:

Captures signing time, browser activity, and transaction event timestamps.

Hash document:

Associates the signed Lease Option Memo Form with a document hash.

Seal record:

Seals the completed record so later changes can be detected.

Log events:

Maintains ordered events for fields, signatures, and document status changes.

Export evidence:

Allows authorized users to retrieve or export the audit trail.

Field detection

Upload the Lease Option Memo Form and identify its existing fields before assigning parties or adding missing signature, date, and initials fields.

Signer routing

Route landlord, tenant, broker, or attorney signatures in a defined order when the lease transaction requires sequential review.

Audit trail

Capture completed fields, signature events, timestamps, and transaction history for the specific lease memo.

Reusable template

Use reusable templates for recurring property transactions while preserving variable rent, option, deposit, and exercise-date fields.

Remote signing

Let parties review and sign from supported signNow web or mobile workflows without exchanging paper copies.

Record export

Download the executed memo and completion evidence for the property’s controlled record.

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Setting	Recommendation
Signer authentication method	Email verification with SMS OTP
Signature type	Electronic signature with audit trail
Audit trail	Export with completed PDF
Document retention	Follow governing lease policy
Encryption	TLS 1.2 or 1.3 and AES-256

Prepare the memo

Review property, option, rent, deposit, and party details before sending.

Deliver to signers

Send the completed memo through signNow to each named signer.

Complete signer review

Signers review lease terms and complete assigned fields electronically.

Archive the completed memo

Download the signed PDF and preserve its audit trail with the record.

Retention periods for lease memo records

Retention depends on the memo’s business, tax, lease, and dispute context; apply the specific rule governing the underlying record.

Lease policy period

Apply the lease, property, and organization’s retention policy; no universal federal period applies solely because this memo is signed electronically.

Three years for tax records

Retain tax-relevant records three years from filing under IRC §6501(a), unless the applicable exception extends the period.

Six years for understatements

Retain records six years when 25% or more income was understated under IRC §6501(a).

Indefinite fraud records

Keep records longer when fraud occurred or no return was filed; IRC §6501(a) provides no limitation period.

Hold during litigation

Preserve the memo during a dispute or litigation hold until authorized release, regardless of routine deletion schedules.

Risks of an incomplete lease memo

Unclear lease terms

Terms may be disputed

Incomplete execution

Missing signatures weaken proof

Altered document

Unauthorized edits undermine evidence

Disclosure failure

Required notices may be omitted

Record-keeping practices for lease memos

Retain the signed Lease Option Memo Form with its audit evidence, access controls, and jurisdiction-specific retention decision.

Store the signed memo with evidence

Keep the signed Lease Option Memo Form, completion certificate, and audit trail together in a restricted repository. Apply the retention period required by the applicable lease, accounting, tax, or litigation-hold policy rather than deleting records solely because signing is complete.

Export the audit trail

Export the signNow audit trail after every completed lease memo and preserve the original PDF without editing it. The event history should remain associated with the exact version containing property details, option dates, rent, deposits, and signatures.

Restrict access to lease records

Use role-based access for property managers, owners, legal reviewers, and administrators. Review permissions when personnel change, and prevent broad template editing so unauthorized users cannot alter option consideration, exercise deadlines, or renewal language.

Document the governing retention rule

Document the retention rule applied to each property file and extend it when a dispute, investigation, or litigation hold exists. State law and contract requirements can exceed an organization’s baseline schedule, so obtain legal review for the governing jurisdiction.

Legal standing of lease option memos

A signed Lease Option Memo Form can provide evidence of the parties’ documented intent when attribution, consent, signature intent, and reliable record reproduction are established under ESIGN and applicable state law. It does not replace requirements for excluded documents such as wills, certain court orders, or state-specific real-estate instruments.

Why teams look for DocuSign alternatives

Security and data protection

Transport encryption:

TLS 1.2/1.3 in transit

Stored data encryption:

AES-256 at rest

Security certification:

SOC 2 Type II certified

Information security:

ISO 27001 certified

Signature compliance:

ESIGN and UETA compliant

Health data controls:

HIPAA compliant with BAA

Mobile options for lease memos

Complete Lease Option Memo Form workflows through signNow mobile apps on iOS and Android, including camera-based document capture and offline signing options.

Mobile apps iOS and Android apps
Offline mode Offline signing available
Camera capture Camera document capture

For regulated or multi-user deployments, confirm managed-device controls, connectivity, authentication, and retention policies before assigning lease memo workflows. The completed document and audit trail should remain accessible to authorized users after signing.

Privacy pitfalls in lease option memos

Including tenant, landlord, property, or option-price data unnecessarily can expose personal or financial information in circulated copies.
Sending a lease memo before capturing electronic consent may create questions about whether each signer agreed to electronic records.
Leaving shared templates broadly accessible can let unauthorized users change rent, dates, or option terms before sending.
Using an unprotected download link can expose the completed memo and its signer information to unintended recipients.

Lease Option Memo Form troubleshooting

Resolve field, signer, plan, legal, and record-retention questions before relying on a completed Lease Option Memo Form.

On signNow Business, upload the Lease Option Memo Form, inspect detected fields, and add missing signature, date, initials, or text fields manually. Confirm that variable property and option terms are not locked inside a reusable template.

A signer can complete the memo without a signNow account when the sender’s workflow permits guest signing. Require stronger authentication, such as SMS OTP, when the property transaction or internal policy needs more attribution evidence.

Business includes legally binding eSignatures, templates, audit trails, and mobile apps at $8 per user monthly when billed annually. Subscription plans include 100 signature invites per user per year, with overage fees.

Business Premium costs $15 per user monthly when billed annually and adds bulk send, kiosk mode, request payments, and quick invite links. Use those features only when the lease portfolio requires repeated or in-person workflows.

The U.S. ESIGN Act, 15 U.S.C. chapter 96, and UETA generally recognize electronic signatures when intent, consent, attribution, and record reproduction are established. Review state-specific lease and real-estate requirements separately.

Export the completed PDF and signNow audit trail together, then place both in the property record. Apply the retention period required by the governing lease, business policy, applicable tax rule, or litigation hold.

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