Use this template to prepare an Option to Purchase Land for use in Canada, by which the vendor (seller) grants the purchaser an irrevocable option to purchase the subject lands. Provisions of the option include:

• The purchase price is to 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 a portion of the land.

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