Agreement For Sale Flashcards
1
Q
Is the buyer the vendor or the vendee
A
Vendee
2
Q
What kind of transaction is in agreement for sale used between two private parties
A
A carry back
3
Q
Does the buyer have an equitable interest
A
Yes
4
Q
When does the buyer receive the deed
A
When the loan balance is paid in full
5
Q
Is court action required if the buyer defaults
A
No
6
Q
Does the buyer forfeit the buyers equity to the seller in a case of default
A
No
7
Q
The forfeiture period Is based on
A
The buyers equity position
8
Q
In agreement for sale may be foreclosed as a mortgage if what clause used
A
Acceleration clause
9
Q
Is the seller the vendor or the vendee
A
Vendor
