Question

A buyer wishes to have the choice to buy a parcel of land in the next few months, so he offers option money to the owner. if the offer is accepted, this transaction is an example of__________.

Answer 1

A buyer wishes to have the choice to buy a parcel of land in the next few months, this transaction is an example of equitable title to the property.

An option to buy actual property offers the holder an equitable interest within the assets. options to buy real assets provide the holder equitable interest within the assets and the right to essentially force the belongings owner to sell at any time all through the time period of the contract.

While a potential client makes a written buy provide that the vendor accepts, then the: customer gets equitable title to the assets. A bilateral contract is one that: The promise of one birthday celebration is given in alternate for the promise of the alternative birthday party.

An alternative settlement is in which a prospective client enters into an settlement with a landowner for the proper to buy their land/assets, frequently paying the landowner a amount of money as an option fee. the possible consumer then has the choice inside a duration described inside the settlement to shop for the belongings.

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