Purchase right

A purchase right, often called an option to purchase, allows the beneficiary to acquire a property by exercising the right within the agreed period and conditions. Unlike a pre-emption right, it does not depend on the owner first deciding to sell to someone else. In Swiss real estate practice, such rights require careful drafting on price, duration, object and exercise procedure. For land, formal requirements and land-register annotation are important to make the right enforceable against later owners and to avoid evidentiary disputes.