Contracts
In a TREC contract, 'possession' of the property typically transfers to the buyer:
AWhen the contract is signed
BAt closing and funding✓ Correct
CWhen the option period expires
D30 days after closing
Explanation
Under TREC contracts, possession transfers at closing and funding unless a separate possession agreement (such as a Seller's Temporary Residential Lease or Buyer's Temporary Residential Lease) is signed allowing different possession timing. The buyer takes possession once all closing documents are signed and funds are disbursed.
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