Contracts
Under Massachusetts law, an option to purchase real estate gives the buyer:
AThe obligation to purchase the property at the stated price
BThe right, but not the obligation, to purchase the property at a set price within a set time✓ Correct
CPriority over all other buyers automatically
DA lien on the property
Explanation
An option to purchase gives the holder the right (but not the obligation) to buy a property at a specified price within a stated period. The seller is bound but the buyer is not required to exercise the option.
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