A recently passed Minnesota statute mandates that the vendee (buyer) record the contract for deed within 4 months of the agreement's execution in order to avoid penalties.
<h3>How long does it take to record a contract for deed?</h3>
One minor modification concerns the need under Minnesota Statute Section 507.235 that the contract buyer, sometimes known as the "vendee," must record the contract for deed within four (4) months after its signing or suffer a fine equal to 2% of the contract price.
<h3>What has the contract for deed law in Minnesota changed?</h3>
The laws governing contract for deeds in Minnesota have lately undergone some revisions. One minor modification concerns the need under Minnesota Statute Section 507.235 that the contract buyer, sometimes known as the "vendee," must record the contract for deed within four (4) months after its signing or suffer a fine equal to 2% of the contract price.
<h3>What takes place if the Vendee fails to record the contract for deed?</h3>
Whoever receives an assignment of a vendee's interest in a contract for deed who neglects to record the assignment in accordance with subdivision 1 is subject to a civil fine, payable under subdivision 5, equal to 2% of the contract debt's original principal amount.
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Answer:
B) Firms increase inventory because there is a risk of interruptions in the flow of production due to unreliable or highly variable process outcomes
Explanation:
Answer:
$75,300
Explanation:
The computation of the balance in the land is shown below;
Purchase cost
$460,000
Add:
Demolition of existing building on site
$71,000
Add:
Legal and other fees to close escrow
$12,900
Less:
Proceeds from the sale of demolition scrap
($8,600)
Balance in the land
$75,300
Therefore, balance in the land account as of December 31, 2021 is $75,300
Answer:
Option a: REIT
Explanation:
A REIT is simply known as Real Estate Investment Trust is a firm or organization that is responsible for pooling of investor funds and thereby investing them in real estate or uses them to so as to produce both construction and mortgage loans. REITS works by enabling companies to use the combined investments of many to purchase a real estate property and it allows both small and large investors to own a share of real estate.
Types of REITs includes Equity REITs which focus on own Properties and Mortgage REITs primarily focus own Mortgage Debt. People iinvest in REITS because it provide greater diversification, potentially higher total returns and/or lower overall risk.
first calculate the total expense by multiplying $850,000 × 35% = $297,500.
Next calculate the net operating income $850,000 - $297,500 = 552,500.
Then take the net income of $552,600 and divide by 12% = 4,604,167
so your answer is 4,604,167