Site: nolo.com
... An option- to-purchase agreement is an arrangement in which, for a fee, a tenant or investor acquires ... the agreed-upon time frame, the tenant forfeits the option money. ... If the tenant lets the period pass, the option expires and becomes null and void. ... In that situation, the tenant forfeits the option fee. ... More Information for Tenants, Landlords, and Homebuyers
The Tenants, Landlords, and Real Estate sections ...