Question 39

Buyer is entitled to an executed deed upon making final payment to the seller.

The buyer is entitled to an executed deed to the property once they have made the final payment to the seller, as this is the point at which the buyer fulfills their obligations under the terms of the land contract.

A) acceptance of the purchase offer.

Acceptance of the purchase offer is merely the initial step in the transaction process and does not grant the buyer any rights to the property, including an executed deed. It establishes an agreement but does not transfer ownership or title.

B) taking possession of the property.

Taking possession of the property does not automatically entitle the buyer to an executed deed. While possession may imply certain rights, the transfer of ownership is contingent upon fulfilling the financial obligations outlined in the land contract.

C) making the down payment.

Making the down payment is an important part of the transaction, but it is not sufficient on its own to secure an executed deed. The full payment as specified in the land contract must be completed to transfer legal title to the buyer.

D) making final payment to the seller.

Making the final payment to the seller is the critical action that entitles the buyer to receive an executed deed. This completion of payment signifies that the buyer has met all contractual obligations, allowing for the legal transfer of ownership.

Conclusion

The correct answer is D, as the entitlement to an executed deed is directly linked to the completion of the final payment, which marks the fulfillment of the buyer's obligations. All other options fail to meet the necessary criteria for transferring ownership, illustrating the importance of final payment in land contract agreements.