In a property sale, who is the seller?

Unlock all questions

This demo includes only 20 questions. Upgrade to access hundreds of questions, flashcards, exam simulations, and disable ads.

Full question bankExam simulationsFlashcards
From $25.99Unlock all

Study for the Chartered Property Casualty Underwriter 530 Exam with flashcards and multiple choice questions. Each question has hints and explanations to enhance your understanding and prepare you thoroughly.

Multiple Choice

In a property sale, who is the seller?

Explanation:
In a real estate transaction, the party who transfers ownership is referred to as the vendor. The buyer is the purchaser, and the lender is the entity providing financing. While “seller” is a common everyday term, contracts and deeds use the formal term vendor for the party selling the property. So, the seller in a property sale is the vendor.

In a real estate transaction, the party who transfers ownership is referred to as the vendor. The buyer is the purchaser, and the lender is the entity providing financing. While “seller” is a common everyday term, contracts and deeds use the formal term vendor for the party selling the property. So, the seller in a property sale is the vendor.

More Multiple Choice Questions
Subscribe

Get the latest from Passetra

You can unsubscribe at any time. Read our privacy policy