Which document outlines the rights and responsibilities of homeowners and builders?

The Residential Contract is the correct answer because it serves as a comprehensive legal document that details the specific rights and responsibilities of both homeowners and builders during the construction process. This contract typically outlines the scope of work, payment terms, timelines, and other essential provisions that govern the relationship between the two parties. By clearly specifying expectations and obligations, it helps to minimize misunderstandings and disputes, providing a framework for accountability.

In contrast, while options like The Homeowner's Guide may provide valuable information and insights for homeowners, it does not carry the same legal weight or specificity as a contract. The Construction Contract generally focuses on broader terms and may not address the particulars related to residential projects specifically. The Builder’s Agreement might be a valid document but is not as widely recognized for outlining the comprehensive rights and responsibilities of both parties as the Residential Contract is.