MI Bar Practice Questions - Michigan Bar Examination Exam

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A homeowner contracts to sell her house. Before closing, the house is destroyed by fire through no fault of either party. Under the majority doctrine of equitable conversion, who bears the risk of loss?

The seller, always The bank that holds the mortgage The buyer, because equitable conversion treats the buyer as the equitable owner once the contract is signed The real-estate agent

Correct Answer:

The buyer, because equitable conversion treats the buyer as the equitable owner once the contract is signed

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