How to record your Lease Option the right way

Recording your lease option correctly is essential to being able to exercise the option correctly and refinance in the future. When you record the lease option, you should only record a one page document entitled “Memorandum of Lease Option.” You shouldn’t record the entire lease option because an underwriter will then ask to go through the entire option.

Since the entire option can be lengthy, you want to eliminate the chance that there is something in that the underwriter doesn’t like, which could cause her to decline the loan. Why should you overwhelm and confuse the underwriter who most likely won’t understand what they are reading anyway?

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