What is the term used for the giver of an option in real estate?

The term used for the giver of an option in real estate is "Optionor." In the context of real estate transactions, an option agreement is a contract where one party (the optionor) grants another party (the optionee) the right to purchase or lease a property at a predetermined price within a specified time frame. The optionor retains ownership of the property while providing the optionee with the right to exercise the option, typically by paying an option fee.

Understanding this terminology is essential for anyone involved in real estate transactions, as it delineates the roles and responsibilities of the parties involved. In contrast, a vendor typically refers to a seller in a sales transaction, while a vendee is the buyer. These terms indicate different roles and do not specifically relate to the context of an option agreement, making "Optionor" the correct and precise term for the giver of an option.