Contracts
In Alabama, who bears the risk of loss if a property is damaged between contract signing and closing?
AAlways the seller until the deed is delivered
BGenerally the buyer under the doctrine of equitable conversion, unless the contract specifies otherwise✓ Correct
CAlways the lender
DSplit equally between buyer and seller
Explanation
Under the doctrine of equitable conversion, once a purchase contract is signed, equitable title passes to the buyer, who may bear the risk of loss — unless the contract provides otherwise.
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