A put and call option agreement is between a Seller and a Buyer of Real Estate. The agreement grants rights from each party to the other being:-
- The Seller gives the Buyer a “call option” to buy the property from the Seller (the Buyer can require the Seller to sell the agreed property) and
- The Buyer gives the Seller a “put option” to sell the property to the Buyer (the Seller can require the Buyer to buy the agreed property).