Hypothecation - ANSWER pledging property as collateral for Title Theory - ANSWER lender owns, borrower has equitable title
a loan without giving up possession
Mortgagee - ANSWER Lender
Mortgagor - ANSWER borrower
Non Judicial foreclosure - ANSWER *CO: Public trustee has power to foreclo...
Title Theory - ANSWER lender owns, borrower has equitable title
Hypothecation - ANSWER pledging property as collateral for a loan without giving up possession
Mortgagee - ANSWER Lender
Mortgagor - ANSWER borrower
Non Judicial foreclosure - ANSWER *CO: Public trustee has power to foreclose
1.Lender complains 2. Notice given 3. trustee sells after 125 days
Strict foreclosure - ANSWER No sale.
Full legal title given to lender, loss of equity for borrower
Judicial foreclosure - ANSWER done through courts in *Title Theory states
Conversion - ANSWER illegal use of entrusted money
Comingling - ANSWER mixing client monies or mixing with personal monies
Express Agency - ANSWER Actual, formal written agreement establishing terms and conditions
Gross Income Multiplyer - ANSWER =sale price/gross ANNUAL income
large rental or commercial property
, Government deed limitations - ANSWER Police power
eminent domain
taxation
escheat
section - ANSWER 640 acres
1 square mile
36 per township square
brokerage - ANSWER the business of bringing parties together
negligent misrepresentation - ANSWER broker SHOULD HAVE known and is liable for damages
E and O insurance will cover
township tiers - ANSWER 6 mi wide strips running east and west parallel to base lines
lien - ANSWER charge or claim against property to enforce a debt payment
collateral/security in real estate form
encumbrance
cloud of title - ANSWER defect preventing transfer
regression - ANSWER larger more luxurious home in modest neighborhood has less value
equitable right of redemption - ANSWER redeem property BEFORE tax sale
tax sale process - ANSWER sale of property to pay taxes
court order, public notice, public sale, certificate of sale given
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