The Distinction Between Legal Title and Equitable Title Is an Important

question 9

Multiple Choice

The distinction between legal title and equitable title is an important concept in the contract for sale of real estate.When the buyer obtains equitable title,the seller can no longer sell the property to someone else,even though the legal title has not officially passed on.In the contract for sale process,the creation of equitable title occurs when:

• A)the contract for sale is written.
• B)the contract for sale is signed.
• C)the contract terms are agreed upon.
• D)each party is deemed legally competent.

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Definitions:

Slack

A collaboration tool that allows teams to communicate in real-time through channels dedicated to specific topics, projects, or departments.

Predecessors

Tasks or activities that need to be completed before a subsequent task or activity can begin in project management and planning.

Minimum Duration

The shortest possible time in which a process, task, or project can be completed, often identified through planning and optimization techniques.

Non-critical Points

Locations or instances within a system, process, or project that do not directly impact the outcome or goal, and where failure or variance has negligible effects.