Louisiana Laws
Requirement to Record: An option is not legally required to be recorded. However, an option must be recorded to establish legal protection against third party claims.[1]
Expiration: Louisiana law establishes means for creating constructive notice but does not explicitly address its expiration.
Maximum Term: An option may not be made for longer than 10 years.[2]
No Duration: Under Louisiana contract law, an option without specifying a term, the offer is valid for a “reasonable time.”[3] However, an option made in connection with a lease agreement will expire at the end of the lease if no duration for the option is specified.
Signing Requirements: The option may be in writing or verbal.[4]
Required Disclosures (1)
1. Lead-Based Paint Disclosure & EPA Pamphlet (conditional) – Federal law that requires landlords to disclose the dangers of lead-based paint for any residence built before 1978.[5]
Seller’s Disclosures (1)
1. Property Disclosure Document (required) – All home sellers must provide potential buyers with a full disclosure statement revealing the material condition of the property. This includes information on whether the property was ever used as a meth lab, whether the property is part of a homeowner’s association, and more.[6]