Contracts
A Nebraska lease with an option to purchase is recorded by the tenant. This protects the tenant because:
AIt prevents the landlord from selling the property
BIt provides constructive notice of the tenant's option rights to future purchasers✓ Correct
CIt makes the lease superior to all mortgages
DIt automatically extends the lease term
Explanation
Recording the lease-option provides constructive notice to the world of the tenant's option rights. A subsequent purchaser who buys with notice of the option takes subject to it, protecting the tenant's rights.
Related Nebraska Contracts Questions
- An option contract in real estate gives the buyer:
- When a purchase agreement is signed but awaiting closing, it is considered:
- An option contract in real estate gives the optionee (buyer) the right to:
- Which of the following is an example of an 'as-is' clause in a purchase agreement?
- In Nebraska, which party typically prepares the deed in a residential real estate transaction?
- A bilateral contract is one in which:
- A purchase agreement is considered 'executory' when:
- When a buyer defaults on a purchase agreement, the seller's remedies may include:
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