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3 Cards in this Set
- Front
- Back
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Contract for the Sale of Real Estate |
A. Required by the statute of frauds to be in writing to be enforceable.
F. After both the buyer and the seller have executed the sales contract, the buyer acquires the interest in the land, known as Equitable Title, or sometimes called an insurable interest. |
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Earnest Money Deposits -- Not Required for a Legal Contract A. Generally give evidence of intention to carry out the terms of contract |
2. Cannot be commingled, mixed with a broker's operating funds, or converted to a broker's own use. |
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Options |
A. Contract by which the optionor (owner) gives the optionee (prospective buyer) the right to buy at a fixed price within a stated period of time.
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