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This is the reverse of a question in this section on the right of possession and equitable title. Again, the vendor (seller) holds legal title to the property until the debt is repaid in full.
The grantor must
____ the deed for it to be valid.
Which of the following is true concerning an option?
Only the optionor is bound to perform under the terms of an option.
When Jack sells his home, he wants to be relieved of the primary liability for payment of the existing loan. He needs to find a buyer who is willing to
assume the existing loan.
For a listing agreement to be valid, it must be
in writing, have an expiration date, and be signed
An express contract is
either written or oral
Which of the following contracts needs to be in writing in accordance with the Statute of Frauds?
A contract that is not to be performed for thirteen months.
Mutual consent is typically evidenced by
offer and acceptance.
An offer to perform in accordance with contractual obligations is an example of
Anita signs a real estate purchase contract as a buyer. The contract states the offer to purchase is valid for three days. One day later, Anita wishes to rescind her unaccepted offer. Which of these answers is correct?
Anita may revoke the offer and recover her deposit.
Under which one of the following listing contracts must an owner pay a commission, regardless of who sells the property?
An exclusive right to sell listing.
The following persons may not lawfully enter into a valid contract to purchase property, except
____ is a way of proving that the grantor signs the deed voluntarily.
The instrument most likely to state that “time is of the essence” is a (n)
real estate purchase contract.
A husband signed a contract to sell community real estate without his wife’s signature. The contract is
On an exclusive listing, a broker is not disciplined for failure to
attach a tax statement to the listing.