A Lessee Is in Possession of a Valid Lease When

question 74

Multiple Choice

A lessee is in possession of a valid lease when a buyer agrees to assume a veteran's loan and close a sale subject to the lease. The earnest money contract is signed before the lease is due to expire. The lease can

• A) be terminated immediately.
• B) be changed by the new buyer.
• C) not be terminated by the buyer.
• D) be terminated at close of escrow.

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Definitions:

Fiduciaries

Individuals or organizations that are entrusted to manage assets or wealth on behalf of another party and are required to act in the best interests of the beneficiary.

Duty of Care

The legal obligation to ensure the safety or well-being of others by taking reasonable precautions or actions to avoid acts of negligence.

Duty of Diligence

The obligation to perform work with careful attention, effort, and thoroughness, particularly in a professional or legal context.