Seller and Buyer execute an agreement for the sale of real property on September 1, 1971. The jurisdiction in which the property is located recognizes the principle of equitable conversion and has no statute pertinent to this problem."Assume for this question only that Buyer dies before closing, there being no breach of the agreement by either party. Which of the following is appropriate in most jurisdictions?
Buyer's heir may specifically enforce the agreement. Seller has the right to return the down payment and cancel the contract. Death terminates the agreement. Any title acquired would be unmarketable by reason of Buyer's death.
Question: Seller and Buyer execute an agreement for the sale of real property on September 1, 1971. The jurisdiction in which the property is located recognizes the principle of equitable conversion and has no statute pertinent to this problem."Assume for this question only that Buyer dies before closing, there being no breach of the agreement by either party. Which of the following is appropriate in most jurisdictions?
A. Buyer's heir may specifically enforce the agreement.
B. Seller has the right to return the down payment and cancel the contract.
C. Death terminates the agreement.
D. Any title acquired would be unmarketable by reason of Buyer's death.
Answer: