Letters of intent (LOIs) are used to summarize the material terms of a proposed transaction, typically involving the leasing or sale of real property.

A Letter of Intent is typically the first formal step in a sale process. It is a document that outlines the key business, legal, and tax terms before a binding agreement is drawn up.

A letter of intent, or LOI, is a document that states one party’s intent to do business with another. These letters are used in various contexts but are most commonly written in real estate ...