By the purchase option contract, one of the parties (optionee) transfers, in exchange for a price, to the other party (optionee), the right to determine, within a previously defined period, the moment in which the second party will purchase the good that is the object of the option, at the price and conditions also previously agreed upon.

When the asset on which the option falls is real estate, in that case a real right of preference and guarantee arises, the legal nature of which is similar to that of the rights of first refusal and withdrawal, and which can be the subject of registration in the Property Registry, registration publicity that confirms its nature as a real estate right.

Once the right of purchase option has been registered in the Property Registry, the right of purchase option becomes effective against third parties, so that the sale or transfer carried out by the opted party, before concluding the period limited to the opting party, to decide its acquisition, the transfer in its favor can be withdrawn by the latter, paying for this the price that was initially agreed upon to opt to buy.