Contracts
Under New York law, if a real estate contract does not specify a closing date, a court may hold that a 'reasonable time' to close is:
A30 days from signing
BDetermined by the facts and circumstances, but courts have held 30-90 days to be reasonable for routine residential closings✓ Correct
C12 months from signing
DImmediate
Explanation
When no closing date is specified, New York courts require that the parties close within a 'reasonable time,' which is determined by the specific facts, including the complexity of the transaction and customary practice. For typical residential deals, courts have found 30-90 days reasonable.
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