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Monday, 09 December 2019
Agent Resource Center
Agent Resource Center

Question: A buyer purchasing real property using a conditional sales contract would acquire:

Written by Posted On Sunday, 01 December 2019 05:00

(A) A possessory interest
(B) An estate of inheritance
(C) A freehold estate
(D) All of the above

 

Answer:  (A)  The buyer (vendee), under the terms of a Conditional Sales Contract, receives an (1) “equitable” title together with (2) possession of the property. In addition the Vendee receives the (3) right to acquire the fee title after all of the conditions of the contract have been met. At that time, the Vendor grants him the Fee title which includes the (1) “Estate of inheritance” and the (2) “Freehold estate” as indicated in choices (B) and (C).

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