Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A buyer of an installment contract buys the property on a seven-year contract. At the end of the second year, the buyer of the installment
A buyer of an installment contract buys the property on a seven-year contract. At the end of the second year, the buyer of the installment decides to sell the property to someone else. Can the buyer legally do this?
The buyer can sell the property because he has legal title.
The buyer can sell the property at any time he wishes.
The buyer can sell his interest in the property to another buyer, but must pay-off the principal balance of the loan at the closing.
The buyer cannot get out of his installment contract.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started