What is Novation in Real Estate?


Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which of the following explains novation?

Create Your Account To Take This Quiz

As a member, you'll also get unlimited access to over 79,000 lessons in math, English, science, history, and more. Plus, get practice tests, quizzes, and personalized coaching to help you succeed.

Try it risk-free
Try it risk-free for 30 days. Cancel anytime
Already registered? Log in here for access

1. What happens to the original contract once novation has occurred?

2. How many people have to agree to changes on a contract before novation occurs?

Create your account to access this entire worksheet
A Premium account gives you access to all lesson, practice exams, quizzes & worksheets
Access to all video lessons
Quizzes, practice exams & worksheets
Certificate of Completion
Access to instructors
Create an account to get started Create Account

About This Quiz & Worksheet

Use the worksheet and quiz to check your understanding of novation in real estate. Examples of novation and requirements before it can start are topics on the quiz.

Quiz & Worksheet Goals

You can check your knowledge of:

  • What novation is
  • When novation can occur
  • The number of people that must agree to changes on a contract before novation occurs
  • How novation affects the original contract

Skills Practiced

  • Reading comprehension - ensure that you draw the most important details from the lesson on novation in real estate
  • Information recall - access the knowledge you have gained about how novation works
  • Interpreting information - verify that you can read detailed anecdotal examples and interpret if novation is applicable

Additional Learning

What is Novation in Real Estate? is a lesson you can use any time to complete the following goals:

  • Study examples of novation for renting, buying, and building a home
  • Review legal issues regarding novation
  • Identify novation benefits