Optionor

Definition: The optionor is the person or entity granting an option. In a purchase option, this is usually the owner promising to honor the purchase right if the holder properly exercises it.

Example

An owner grants Jordan an enforceable option to buy a parcel. The owner is the optionor.

Keep the distinction clear

Also seen as optioner. The optionor grants the right; the optionee holds it. Receiving an option payment does not itself complete a property sale.

Related terms

Optionee · Option Contract · Consideration

Keep studying

Option Contracts: Who Is Bound, Consideration, and Exercising the Option

References: Merriam-Webster Legal: Optionor · Cornell LII: option

Pronunciation (US): OP-shuh-nor (capitals show stress)

Pronunciation reference: Merriam-Webster