Date Of Execution

The date of execution refers to the date where an option in an agreement is triggered with required conditions being met.

While this can refer to any type of contract with any types of options, in real estate, it almost exclusively refers to the exercising of an option to purchase (OTP) contract by a buyer.

This means that the buyer has committed himself to buy the property.

The date when the option has been exercised is the date of execution.

Note that a seller is already obligated to sell to the willing buyer since an OTP has already been issued.

The date of execution can be a critical piece of evidence when disputes arise should a buyer or seller backs out of an agreement to transact.

It can also have significant tax implications.

Option To Purchase

Objection To Annual Value

Premises Liability

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