Contracts
Under Colorado real estate law, an 'option contract' gives the optionee the:
AObligation to purchase the property at a set price
BRight but not the obligation to purchase the property within a specified period✓ Correct
CRight to list the property for sale
DRight to sublease the property to another party
Explanation
An option contract gives the optionee (potential buyer) the exclusive right to purchase the property at a predetermined price within a specified period, but does not obligate them to do so. The optionee pays option consideration for this right.
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