Contracts
What is the legal principle of 'merger' in Nevada real estate contracts?
AThe combination of two adjacent properties into one
BOnce a real estate transaction closes, the purchase contract merges into the deed and the contract's terms are generally extinguished✓ Correct
CThe merger of two real estate brokerages
DWhen a buyer assumes the seller's existing mortgage
Explanation
The doctrine of merger holds that upon delivery and acceptance of the deed, the purchase agreement merges into the deed. Generally, contractual rights that were not preserved in the deed are extinguished, though courts may recognize exceptions for fraud or collateral agreements.
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