Contracts
In Colorado, a 'lease option' agreement gives the tenant-buyer:
AA. An obligation to purchase the property at the end of the lease
BB. The right (but not the obligation) to purchase the property at a predetermined price within a specified period✓ Correct
CC. Immediate ownership of the property
DD. The right to sublease without the owner's permission
Explanation
A lease-option (rent-to-own) gives the tenant the RIGHT to purchase the property at a set price during the option period — but it is not mandatory. If the tenant exercises the option, the lease transitions to a purchase. If not exercised by the deadline, the option expires. A portion of rent may credit toward the purchase price.
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