Hank leases 150 acres from Sara and Jesse. He has an option contract attached to his lease, with an option to purchase that can be exercised within the next two years. What type of contract is this

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An option-fee based contract is the contract attached to his lease as its has an option to purchase that can be exercised within the next two years.

What is an option-fee based contract?

An type of contract is that allows a money to be paid by a buyer to a seller for the option to terminate a real estate contract.

In conclusion, an option-fee based contract is the contract attached to his lease as its has an option to purchase that can be exercised within the next two years.

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