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In this lesson, we will explore key elements of the land sale contract, including the merger doctrine, marketable title, seller's duties, equitable conversion, and risk of loss. Our focus will be on the contract stage of the real property purchase and sale process, which is distinct from the deed stage. The contract stage encompasses all activities leading up to closing, defined as the transfer of property ownership from the seller to the buyer. This transfer occurs when the deed is delivered, marking the end of the contract stage. Understanding these concepts is essential for navigating the intricacies of real estate transactions.