Contracts
In Minnesota, a purchase agreement is considered 'fully executed' when:
ABoth parties have signed the purchase agreement
BAll parties have completely fulfilled all of their respective obligations—the sale has closed with title transferred and funds paid✓ Correct
CThe earnest money has been deposited
DThe buyer's attorney has reviewed the contract
Explanation
A fully executed (or 'performed') contract is one where all contractual obligations have been completed. In a real estate transaction, this occurs at closing when: the seller delivers the deed (title transfers), and the buyer delivers the full purchase price. Prior to closing, the purchase agreement is an executory contract—obligations are promised but not yet fully performed.
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