Contracts
In West Virginia, an option contract in real estate gives the optionee:
AAn obligation to purchase the property by the option deadline
BThe right, but not the obligation, to purchase the property at a set price within a specified time period✓ Correct
CThe right to list the property for sale on behalf of the optionor
DEquitable title to the property immediately upon signing
Explanation
An option contract grants the optionee the exclusive right to purchase the property at a predetermined price within a specified period. The optionee is not obligated to exercise the option but pays consideration to keep the option open.
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