45. Under the terms of a land contract, the buyer is entitled to an executed deed to the property upon
Answer: D
The buyer is entitled to an executed deed to the property upon making final payment to the seller.
The buyer receives the executed deed to the property only after fulfilling their obligation of making the final payment to the seller as outlined in the land contract.
A) acceptance of the purchase offer.
Acceptance of the purchase offer is an initial step in the land contract process but does not entitle the buyer to the executed deed. The deed is only transferred once the terms of the contract, including payment, are satisfied.
B) taking possession of the property.
Taking possession of the property can occur before the buyer receives the executed deed, depending on the terms of the land contract. However, possession alone does not guarantee ownership; the deed is legally transferred upon final payment.
C) making the down payment.
Making the down payment is a part of the financial obligations in a land contract, but it is not sufficient for the buyer to receive the executed deed. The full payment must be completed for the deed to be executed and transferred.
D) making final payment to the seller.
Making the final payment to the seller is the critical condition that must be met for the buyer to obtain the executed deed. This completion of payment signifies that all financial responsibilities under the contract have been fulfilled.
Conclusion
The correct answer is clearly option D, as the executed deed is only delivered upon the completion of the final payment, which signifies the fulfillment of the land contract's obligations. Options A, B, and C fail to meet the necessary conditions for deed transfer, making them incorrect in this context.