The lease extension form is an amendment to the lease, and the renewal is automatic, meaning there are no later executions of a lease in either instance.

Both the buyer and seller signed this and there was no modification to the offer price on the PSA.The seller now wants to amend the price to $131k and my broker doesn’t know what to do.Is $120k or $131k legally binding?

Both the buyer and seller signed this and there was no modification to the offer price on the PSA.The seller now wants to amend the price to $131k and my broker doesn’t know what to do.Is $120k or $131k legally binding?

I am not a lawyer and cannot give legal advice, so you might want to check with an attorney to see if you need to file a state registration form, maybe amend your current state registration, and oh yes, pay a fee.

I would only amend the lease by adding the daughter as an occupant responsible for payment and all other terms in the least.

Thus they can spread out their tax payments and not keep filing amended returns to recapture possible overpayment of taxes. 

You will either need to amend a prior year's tax return or file for a Change of Accounting Method (Form 3115).

If it doesn't autorenew, a simple one page amendment, referancing the origional lease parties, address, and ratificaiton date and noting the new terms will suffice.  

Is there some reason why I should do more than send an email to that effect; for example, is there some reason why I should present this offer as an amendment to the lease?

You need to review each lease to make sure they either conform to and work with your development plan, see if you can amend leases that don't work with your plan, or alter your plan to work with the current leases.I see an opportunity to create value in either event (that is under the current zoning/density or increasing density).