Title and Equitable Title

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FLORIDA REAL ESTATE SALES ASSOCIATE COURSE

Real Estate Contracts

Section 33 of 45

Title and Equitable Title - Unless the contract states otherwise, the seller must deliver clear and marketable title. When the contract is signed, the buyer receives equitable title, which means the buyer has a beneficial interest in the property and expects to receive legal title at closing. Licensees must disclose any known title problems to the buyer. Most contracts require the seller to provide either an updated abstract or a title insurance policy.