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The video tutorial discusses the concept of equitable interest, which is essential for both the real estate licensing exam and the professional practice of real estate. Equitable interest is particularly relevant in buyer-seller transactions. The tutorial emphasizes the dynamic roles of the parties involved: during negotiations, the buyer acts as the offeror, making an offer to the seller, who is the offeree, receiving that offer. The video also mentions that the roles of the parties can change throughout the transaction process. Understanding equitable interest is vital for real estate professionals in everyday transactions.
