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First Principles of Business Law |
| Property law |
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2.2. Private ownership of land |
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2.2.5. How ownership rights in land are transferred |
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Albert wants to know how he will become the owner of the land if he buys it. Consider the following statements and choose the one that is correct. |
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(a) When a purchaser agrees to buy land, they become the owner of that land as soon as the contract is completed together with an intention to transfer ownership. (b) When a purchaser agrees to buy land, title is transferred to the buyer only when the transfer is properly registered. |
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