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real estate contracts can be discharged in several ways, including performance, where both parties fulfill their obligations, or mutual agreement, where both parties consent to terminate the contract. Other methods include the occurrence of a specified condition that nullifies the contract or a breach by one party, allowing the other party to terminate. Additionally, contracts can be discharged through impossibility of performance, where unforeseen circumstances make it impossible to fulfill the terms. Finally, a court may discharge a contract in cases of fraud or misrepresentation.
What else can I help you with?
Does Article 2 of the UCC governs real estate contracts?
No. It governs transactions dealing with movable property (goods), common law deals with real estate and personal service contracts.
Are oral contracts viable in real estate?
They are not enforceable. The Statute of Frauds mandates that all contracts for the sale and conveyance of real property must be in writing. Period, end of story. Even if you are giving your child your home--you must execute a quit claim deed to give it to them.
How long is real estate course in Texas?
The fastest way to finish your real estate course is through online real estate schools. Texas Real Estate Commission (TREC) requires 210 hours of real estate education for you to be a licensed real estate agent. If you have college credit then all you need is 150 hours of real estate education. I have attached some useful reference that you can check out if you want to pursue a career in real estate.
Does Cuba have real estate agents?
Yes, there are real estate agents in Cuba. But purchasing or selling real estate in Cuba can be complicated due to the rules and procedures involved. Contact Remaxstar Estate Agents Ilford at estateagentsilford.co.uk for assistance with real estate transactions in Ilford, United Kingdom.
Who pays for a real estate appraisal--buyer or srller?
In residential contracts in the US, the buyer pays for the appraisal which is required to obtain a mortgage. Some contracts may be negotiated that a portion of the closing costs are seller paid on behalf of the buyer which could include the appraisal in the final accounting.
If your bankruptcy has been discharged but your house is still in your name do you still have to pay back taxes?
A bankruptcy is not discharged. Debts are discharged. Real estate taxes are a lien on the real estate and would not usually be discharged. Talk to your bankruptcy layer.
Does Article 2 of the UCC governs real estate contracts?
No. It governs transactions dealing with movable property (goods), common law deals with real estate and personal service contracts.
Is a verbal agreement legal for real estate in NC?
No. The Statute of Frauds states that real estate contracts must be in writing.
Where can I find a sample real estate contract?
A web search for "sample real estate contract" will return many sites that offer sample real estate contracts. You could also try a real estate investing or real estate sales book at your local book store for more samples. One resource that is often overlooked when looking for sample contracts is a local library. Libraries often have legal resources and may have a sample, and if not, they will likely have real estate books that will have copies of various types of contracts in them.
What is the impact of commonlaw in real estate?
Common law plays a significant role in real estate by providing a framework for property rights, contracts, and liability. It influences how property ownership is determined, how disputes are resolved, and how contracts are interpreted in real estate transactions. Understanding common law principles is essential for navigating the legal aspects of real estate transactions.
What is the grace period in the state of Florida for real estate contracts?
Three days.
Can a residential real estate agent do a commercial transaction?
Yes. It is advised that an attorney draft the contracts so that they are legally binding, but the real estate agent can advise on the deal.
Do brokers have the authority to charge an additional fee for drafting real estate contracts?
Yes, brokers may have the authority to charge an additional fee for drafting real estate contracts, but this authority can vary depending on the specific agreement between the broker and the client.
What has the author Seth G Weissman written?
Seth G. Weissman has written: 'Residential real estate contracts' -- subject(s): Real property, Law and legislation, Vendors and purchasers, Real estate business
Identify two types of transactions which requires specialty contracts?
Real estate transactions: Buying or selling real estate often involves specialized contracts to address issues such as zoning, property condition, and financing terms. Intellectual property transactions: Licensing patents, trademarks, or copyrights typically requires specialized contracts to outline rights, royalties, and usage restrictions.
How do you sell the real estate your business is located in without harming your business in the process?
As a broker since 1995, the best I can suggest is written crystal-clear disclosure of your objectives and expectations in the real estate listing, and more importantly in a written agreement with the purchaser, which I would have carefully analyzed and apprvoed by your trusted attorney (who you are confident has a perfectly clear understanding of your objectives). In real estate, if it's not in writing, it just plain isn't Contracts, contracts, contracts! The first place I would stop is at your attorney's office!
What qualifications are required for Real Estate School?
There aren't any "real estate schools". Real estate brokers must be licensed, which involves knowing the ins and outs of making offers, writing contracts, and negotiating final deals. Experience is usually gained by apprenticeships with other licensed brokers.
