Contracts
In Oklahoma, a 'merger' in real estate contracts means that when the transaction closes:
ATwo companies that owned the property merge into one
BThe purchase contract provisions merge into (are superseded by) the deed; claims about contract terms generally cannot be made after closing unless they survived closing✓ Correct
CThe buyer and seller become partners
DThe title and mortgage documents merge into one instrument
Explanation
The doctrine of merger holds that the real estate purchase contract merges into the deed at closing. After closing, most contractual rights are extinguished.
Related Oklahoma Contracts Questions
- A 'time is of the essence' clause in an Oklahoma contract makes the closing date:
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