Contracts
An option contract in real estate gives the optionee the:
AObligation to purchase the property at an agreed price
BRight but not the obligation to purchase the property within a specified time✓ Correct
CRight to list the property for sale with any broker
DAutomatic title to the property upon payment of consideration
Explanation
An option contract gives the buyer (optionee) the right — but not the obligation — to purchase property at a specified price within a set time period. The seller (optionor) is bound during that period.
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