what does buyer is purchasing and exercising purchase option mean?

I am the legal owner of a business rental property. been leasing with a lease agreement with option to buy to an individual the last 15 years . The individual, due to health can no longer work the property and would like to sell and pay myself the legal owner what is owed to me since our pay schedule was set up for 30 years. how should something like this be written up legally and correctly, between myself (the legal owner), the lessee (who wants to sell), a realtor and new buyer if found?
In Selling Property - Asked by christina c. - Feb 8, 2016
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Charles P.
Corporate Investor
Tallahassee, FL

- You need to talk to an attorney, explain what you want the document to look like, and have them draft it.
- When you say, "the individual . . . would like to sell", you're saying the guy with the option would like to sell his option?
- If I understand this correctly I'd just let the guy with failing health pay you whatever you guys work out and then right a new option agreement for the new prospective buyer. (Or just sell the asset to the Buyer outright.)

Feb 8, 2016
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Dennis G.
Pasco, WA


Feb 12, 2016
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