On May 1,Orianna forwarded her client's signed title transfer document,keys,and remote control for the garage door to the purchaser's lawyer.The items were sent in trust,on the express condition that she receive the payment of the balance of the purchase price in return.John will comply,then submit the transfer document to the registry promptly for registration.In the meantime,which of the following should John's clients have effectively put in place for the May 1 closing date?

Question

Quizplus · Accepted Answer

As there is no mention of a need for mortgage financing or a registerable mortgage, options A, C, and D can be eliminated. However, it is important for the purchaser to have insurance coverage in place before taking possession of the property. Therefore, option B is the best choice.

On May 1,Orianna Forwarded Her Client's Signed Title Transfer Document,keys,and