Contracts
In Kentucky, a real estate contract that requires the buyer to pay a non-refundable option fee for the right to purchase is likely structured as:
AA traditional purchase contract
BA lease-option or option contract✓ Correct
CA land contract
DA sale and leaseback
Explanation
An option contract requires the buyer (optionee) to pay an option fee (consideration) for the right to purchase, which is non-refundable if the optionee does not exercise the option.
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