The option should be written so the option provides the buyer, or s/he's assigns, the irrevocable right to exercise s/he's purchase option as per terms negotiated in the option.The option to purchase is atypically negotiated with a fixed price, or a price escalating over time, or a price tied to the market e.g. appraised value x Y% (+/- 90-100%).Oh, and if you're the broker in the deal make sure the broker(s) and sale commission are exclusively identified in the option paragraph. 

I'm sure the trust allowance was intended to be for a conveyance by an individual irrevocable/revocable trusts, but they forgot (?)

This way, my corporations never show a profit and I avoid double taxation.If a person has a lot of equity to protect against lawsuits I went with an Irrevocable Living Trust.

One is to move your equity/ownership in LLC into an irrevocable trust where you have the control to manage the LLC as the manager, but in the capacity as trustee of the Irrevocable trust.

When managing a trust for someone else, then it will be revocable or irrevocable depending on how it is set up.

I have talked to a couple of lenders and they have told me that if I transfer the property into an irrevocable trust, it would trigger a due on sale clause. 

An irrevocable trust will but then you lose ownership of your asset and the taxation may not be favorable.Each one of us has to assess what their asset protection needs are.

Land Trust planning for privacy, asset protection and to minimize FITGrantor forms an irrevocable Land Trust and conveys WA rental house into it.Trustee is a CA corporate entity.Beneficiary of the Trust is a NM LLC set up by Grantor as incorporator but not as member.The LLC has only two members, sons of the Trust Grantor.Does this arrangement allow pass through income to sons, and will they receive a stepped up basis when they inherit the LLC via a grantors separate living trust?

All contracts, options, or other devices not based upon a substantial consideration, or that are otherwise employed to permit an unlicensed person to sell, lease, or let real estate, the beneficial title to which has not, in good faith, passed to such party for a substantial consideration, are hereby declared void and ineffective in all cases, suits, or proceedings had or taken under this chapter; however, this section shall not apply to irrevocable gifts, to unconditional contracts to purchase, or to options based upon a substantial consideration actually paid and not subject to any agreements to return or right of return reserved. 

If you haven't already, something you might look into is an irrevocable trust.