Class Notes (838,711)
Canada (511,059)
Langara College (1,809)
FMGT 1116 (41)
E.Hamer (38)
Lecture

Agreement for Sale.docx

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Department
Financial Management
Course
FMGT 1116
Professor
E.Hamer
Semester
Summer

Description
Agreement for Sale  Title only passes to purchaser when all principle and interest is paid in full  Like a rent to own arrangement  In the event of default – no need to foreclose  Just evict and keep all payments as rent o Why?  No other option for purchaser  Vendor: avoid costs and delays associated w/ foreclosure- possible windfall Vendor Take-Back Mortgage Agreement for Sale Title passes to purchaser at sale Title passes to purchaser when all payments made Vendor must foreclose
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