Is an Option to Purchase an Ownership Interest?
Full Question:
Does an option to purchase residential property constitute an ownership interest in the property?
09/23/2009 |
Category: Real Property |
State: Wisconsin |
#18747
Answer:
The grant of an option to purchase property does not constitute a transfer of such property. A "transfer" of property occurs when a person acquires a beneficial ownership interest in the property. The holder of the option typically acquires no equitable interest in the property until the option to purchase is exercised.
