Contracts
An option contract in Virginia real estate gives the optionee the:
AObligation to purchase the property
BRight, but not the obligation, to purchase the property at a set price within a set time✓ Correct
CRight to list the property for sale
DRight to sublease the property
Explanation
An option contract gives the optionee (buyer) the right — but not the obligation — to purchase the property at a pre-determined price within a specified period, in exchange for consideration paid to the optionor (seller).
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