Originally Posted by
probitas
Not a lawyer, but I'm pretty sure than any kind of legal document that offers an extension option would require that option to be exercised in a valid legal way, meaning signed and notarized documentation. They can't let it lapse and then later verbally claim, well we said we would, that's enough, right? Nope, not a chance.
Not trying to haze or troll, just pointing out something that should be clearly obvious to anyone that has signed a mortgage, a lease, or any other binding contractual obligation. If it doesn't get documented (like most verbal agreements should still be drawn up and signed and notarized, otherwise it's not really binding, it's she said he said, which don't hold up in most courtrooms), it's vapor.