Contracts
Under the doctrine of 'merger,' what happens when a real estate purchase contract closes?
AThe purchase contract survives closing and continues to be enforceable
BThe purchase contract merges into the deed, and the deed becomes the controlling document✓ Correct
CThe lender's loan documents replace both the contract and the deed
DAll contingencies automatically extend for 30 days after closing
Explanation
Under the doctrine of merger, the terms of the purchase contract are 'merged' into the deed at closing. Post-closing, the deed is the operative document. Provisions of the contract do not survive closing unless they are expressly stated to survive.
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