The distinction between legal title and equitable title is an important concept in the contract for sale of real estate. When the buyer obtains equitable title, the seller can no longer sell the property to someone else, even though the legal title has not officially passed on. In the contract for sale process, the creation of equitable title occurs when:
A) The contract for sale is written.
B) The contract for sale is signed.
C) The contract terms are orally agreed upon.
D) Each party is deemed legally competent.
Correct Answer:
Verified
Q1: When a buyer signs an offer to
Q3: While fee splitting between cooperating real estate
Q4: If property owners fail to pay their
Q5: In general, most contracts - including a
Q6: Placed under the umbrella of the Consumer
Q7: Contracts for sale may contain sections that
Q8: Since the issues in many transactions are
Q9: While the principal parties to a transaction
Q10: At the closing, the buyer will be
Q11: In accordance with RESPA, whenever a buyer
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