What distinguishes a sale of real estate from a gift?
What will be an ideal response?
Consideration. A gift lacks consideration, nothing is given in exchange for the property. With a sale, there is an exchange of promises, the promise to transfer and the promise to pay the purchase price.
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A modification of alimony involves the question of whether alimony may be increased or decreased after the original order has been entered.
Answer the following statement true (T) or false (F)
Which of the following is the result of an action in equity?
a. A judgment b. A decree c. A decision d. A declaration
Estates, being a taxable entity, must have an identification number. This number is:
a. The employer identification number b. The decedent’s Social Security number c. A personal number the decedent established in the will d. The cell phone number of the decedent
The main document to review in order to prepare a sale closing checklist is the loan commitment.
Answer the following statement true (T) or false (F)