In Order for a Deed to Be Effective Between the Purchaser

question 53

Multiple Choice

In order for a deed to be effective between the purchaser and the seller of real estate,the deed must:

• A) be in writing and signed by both parties.
• B) include the actual sale price.
• C) be recorded pursuant to the state statute.
• D) be delivered to the buyer by the seller with the intent to transfer title.

---

Definitions:

Cash Equivalents

Short-term, highly liquid investments that are easily convertible into known amounts of cash with original maturities of three months or less.

Highly Liquid

Describes assets that can be quickly and easily converted into cash with minimal impact on their value.

Vouchers

Documents that serve as evidence of a transaction and propose a future payment, detailing the conditions and amounts to be paid.

Cash Register Tape

A continuous roll of paper used in a cash register to record transactions.