{"id":253,"date":"2014-09-17T00:42:03","date_gmt":"2014-09-17T00:42:03","guid":{"rendered":"https:\/\/courses.candelalearning.com\/buslegalenv\/?post_type=chapter&#038;p=253"},"modified":"2015-04-21T20:14:39","modified_gmt":"2015-04-21T20:14:39","slug":"chapter-31-the-transfer-of-real-estate-by-sale","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/clinton-buslegalenv\/chapter\/chapter-31-the-transfer-of-real-estate-by-sale\/","title":{"raw":"Introduction: The Transfer of Real Estate by Sale","rendered":"Introduction: The Transfer of Real Estate by Sale"},"content":{"raw":"<div class=\"bcc-box bcc-highlight\">\r\n<h3>Learning Objectives<\/h3>\r\nAfter reading this chapter, you should understand the following:\r\n<ul id=\"mayer_1.0-ch52_s02_l01\" class=\"im_orderedlist\">\r\n\t<li>The various forms of real estate ownership, including fee simple, tenancy in common, and joint tenancy<\/li>\r\n\t<li>The mechanics of finding, financing, and closing a real estate transaction<\/li>\r\n\t<li>How adverse possession may sometimes vest title in real property despite the nonconsent of the owner<\/li>\r\n<\/ul>\r\n<\/div>\r\n<div class=\"im_section\">\r\n\r\nThis chapter follows the steps taken when real estate is transferred by sale.\r\n<ol id=\"mayer_1.0-ch34_l02\" class=\"im_orderedlist im_editable im_block\">\r\n\t<li>The buyer selects a form of ownership.<\/li>\r\n\t<li>The buyer searches for the real estate to be purchased. In doing so, the buyer will usually deal with real estate brokers.<\/li>\r\n\t<li>After a parcel is selected, the seller and buyer will negotiate and sign a sales agreement.<\/li>\r\n\t<li>The seller will normally be required to provide proof of title.<\/li>\r\n\t<li>The buyer will acquire property insurance.<\/li>\r\n\t<li>The buyer will arrange financing.<\/li>\r\n\t<li>The sale and purchase will be completed at a closing.<\/li>\r\n<\/ol>\r\nDuring this process, the buyer and seller enter into a series of contracts with each other and with third parties such as brokers, lenders, and insurance companies. In this chapter, we focus on the unique features of these contracts, with the exception of mortgages and property insurance. We conclude by briefly examining adverse possession\u0097a method of acquiring property for free.\r\n\r\n<\/div>\r\n&nbsp;\r\n\r\n&nbsp;","rendered":"<div class=\"bcc-box bcc-highlight\">\n<h3>Learning Objectives<\/h3>\n<p>After reading this chapter, you should understand the following:<\/p>\n<ul id=\"mayer_1.0-ch52_s02_l01\" class=\"im_orderedlist\">\n<li>The various forms of real estate ownership, including fee simple, tenancy in common, and joint tenancy<\/li>\n<li>The mechanics of finding, financing, and closing a real estate transaction<\/li>\n<li>How adverse possession may sometimes vest title in real property despite the nonconsent of the owner<\/li>\n<\/ul>\n<\/div>\n<div class=\"im_section\">\n<p>This chapter follows the steps taken when real estate is transferred by sale.<\/p>\n<ol id=\"mayer_1.0-ch34_l02\" class=\"im_orderedlist im_editable im_block\">\n<li>The buyer selects a form of ownership.<\/li>\n<li>The buyer searches for the real estate to be purchased. In doing so, the buyer will usually deal with real estate brokers.<\/li>\n<li>After a parcel is selected, the seller and buyer will negotiate and sign a sales agreement.<\/li>\n<li>The seller will normally be required to provide proof of title.<\/li>\n<li>The buyer will acquire property insurance.<\/li>\n<li>The buyer will arrange financing.<\/li>\n<li>The sale and purchase will be completed at a closing.<\/li>\n<\/ol>\n<p>During this process, the buyer and seller enter into a series of contracts with each other and with third parties such as brokers, lenders, and insurance companies. In this chapter, we focus on the unique features of these contracts, with the exception of mortgages and property insurance. We conclude by briefly examining adverse possession\u0097a method of acquiring property for free.<\/p>\n<\/div>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-253\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Shared previously<\/div><ul class=\"citation-list\"><li>Business and the Legal Environment. <strong>Authored by<\/strong>: Anonymous. <strong>Provided by<\/strong>: Anonymous. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"http:\/\/2012books.lardbucket.org\/books\/business-and-the-legal-environment\/\">http:\/\/2012books.lardbucket.org\/books\/business-and-the-legal-environment\/<\/a>. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by-nc-sa\/4.0\/\">CC BY-NC-SA: Attribution-NonCommercial-ShareAlike<\/a><\/em><\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":5,"menu_order":1,"template":"","meta":{"_candela_citation":"[{\"type\":\"cc\",\"description\":\"Business and the Legal Environment\",\"author\":\"Anonymous\",\"organization\":\"Anonymous\",\"url\":\"http:\/\/2012books.lardbucket.org\/books\/business-and-the-legal-environment\/\",\"project\":\"\",\"license\":\"cc-by-nc-sa\",\"license_terms\":\"\"}]","CANDELA_OUTCOMES_GUID":"","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-253","chapter","type-chapter","status-publish","hentry"],"part":748,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-buslegalenv\/wp-json\/pressbooks\/v2\/chapters\/253","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-buslegalenv\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-buslegalenv\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/clinton-buslegalenv\/wp-json\/wp\/v2\/users\/5"}],"version-history":[{"count":5,"href":"https:\/\/courses.lumenlearning.com\/clinton-buslegalenv\/wp-json\/pressbooks\/v2\/chapters\/253\/revisions"}],"predecessor-version":[{"id":1285,"href":"https:\/\/courses.lumenlearning.com\/clinton-buslegalenv\/wp-json\/pressbooks\/v2\/chapters\/253\/revisions\/1285"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-buslegalenv\/wp-json\/pressbooks\/v2\/parts\/748"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-buslegalenv\/wp-json\/pressbooks\/v2\/chapters\/253\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-buslegalenv\/wp-json\/wp\/v2\/media?parent=253"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/clinton-buslegalenv\/wp-json\/pressbooks\/v2\/chapter-type?post=253"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/clinton-buslegalenv\/wp-json\/wp\/v2\/contributor?post=253"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/clinton-buslegalenv\/wp-json\/wp\/v2\/license?post=253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}