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Splitting Option Consideration with the Seller

August 19th, 2010 No comments
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QUESTION:
Splitting Option Consideration with the Seller……..If total consideration is $5000 and we do a 50/50 split. Will the assignment agreement read “for the sum and consideration of $2500.00 dollars? ”

If I understand it correctly I am the Optionee as well as the Assignor, and the Seller is the assignee in this case, correct?

If the initial and only lease that is going to be involved is the lease between the Seller and the T/B (that I find through my marketing efforts) I need to use the cooperative assignnent agreement instead of the lease option assignment agreement, correct?
ANSWER:
Right on with everything.

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