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What is a Termination Option

What is a Termination Option? WHAT IS AN OPTION FEE?

Refer to this Wikipedia explanation on the definition of an option period, or termination option. In Texas Real Estate Commission Contracts you will find the termination option in paragraph 23.

See an excerpt from the Texas Residential 1-4 Family Resale Contract Below*FOR MORE A MORE DETAILED EXPLANATION, SEEK YOUR ATTORNEY FOR LEGAL ADVICE.