Property Ownership
What is an 'executed' contract in Delaware real estate?
AA contract that has been notarized
BA contract where all parties have signed and all obligations have been fully performed✓ Correct
CA contract signed by both parties
DA contract that has been terminated
Explanation
An 'executed' contract can mean (1) a contract that has been signed by all parties (contractual sense), or (2) a contract in which all obligations have been fully performed (performance sense). In real estate, closing typically 'executes' the purchase contract.
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