What type of contract formalizes the obligations of the parties regarding property transfer in Texas?

The Real Estate Sales Contract is the proper choice for formalizing the obligations related to the transfer of property ownership in Texas. This type of contract is specifically designed to outline the terms and conditions under which a seller agrees to convey property to a buyer. It serves as a legally binding agreement that details critical elements such as the purchase price, financing terms, contingencies, and the responsibilities of both the buyer and seller.

The other options serve different purposes and are not intended for formalizing obligations for property transfer in the same way. A Bill of Sale is typically used for the transfer of personal property, not real estate. A Lease Agreement outlines the terms and conditions for renting or leasing property rather than transferring ownership. An Option Contract gives a buyer the right to purchase property within a specified timeframe but does not itself transfer property. Thus, the Real Estate Sales Contract is the appropriate and relevant choice for formalizing property transfer obligations.