Canada Option to Purchase Land

Give a purchaser an irrevocable option to purchase land in Canada with this Option to Purchase Land template.

• The purchase price will include all permanent fixtures on the land.
• The vendor has the right to register a covenant restricting the use of the land, which the purchaser must agree to and abide by.
• The purchaser has the right to register a caveat on title to the land, with respect to its interest under the option.
• The purchaser can exercise the option for either all or part of the land.
• The option is irrevocable, meaning the vendor cannot revoke it until the option period has expired.