Contracts
In Delaware, a valid real estate contract requires all of the following EXCEPT:
AOffer and acceptance
BConsideration
CCompetent parties
DNotarization✓ Correct
Explanation
Notarization is not a required element for contract validity in Delaware. The essential elements are offer and acceptance (mutual assent), consideration, competent parties, and lawful purpose (plus writing for real estate).
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Key Terms to Know
Fee Simple
The highest and most complete form of property ownership — absolute ownership with the right to use, sell, or pass the property to heirs.
Joint TenancyCo-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
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