Contracts
In North Dakota, which statement about addenda to a real estate contract is TRUE?
AAddenda must be filed with the county register of deeds
BAddenda become part of the contract and must be signed by all parties✓ Correct
CAddenda can only modify price, not other terms
DAddenda are not enforceable unless notarized
Explanation
Addenda (riders or attachments) are incorporated into and become part of the purchase agreement when signed by all parties. They may modify, add, or clarify any term of the original agreement.
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Key Terms to Know
Purchase Agreement
A legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
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