Contracts
Equitable conversion in Alabama real estate law means that:
AA contract can be converted from bilateral to unilateral
BOnce a purchase contract is signed, the buyer holds equitable title and bears the risk of loss✓ Correct
CAn expired contract can be revived
DThe seller may convert the contract to a lease if the buyer defaults
Explanation
Under equitable conversion, once a purchase contract is signed, the buyer holds equitable title and the risk of loss (unless the contract specifies otherwise), even though legal title hasn't transferred yet.
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