Non judicial foreclosure - Study guides, Class notes & Summaries

Under the _______ of recording, title passes when the conveyance is registered on the title certificate. - Answer Torrens System Non-judicial foreclosure is required to foreclose on a - Answer Deed of Trust A broker induces an owner to sell by telling him that Muslims are moving into the neighborhood. This broker is guilty of - Answer Blockbusting What type of agency cannot be revoked by the principal, nor is terminated if the principal dies? - Answer Agency coupled with an inte...

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 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 -...

Colibri Real Estate Practice Final Exam with Complete Solutions Why is the condition of bearing walls more important than non bearing walls? Bearing walls support the ceiling and the roof. Owner Tom decided to lease out his basement to a college student. By leasing the basement, Tom has transferred a portion of his bundle of rights What is a forecast of income and expenses that can be projected over five years? Stabilized budget A buyer told broker Lena that she wants to move t...

Samuel wants to do a 1031 exchange. He sold his investment property and has identified the property he'd like to buy next. Within how many days must he close on this property in order for it to qualify as part of the exchange? correct answers a. 180 b. 30 c.45 d.60 a. He has 45 days to identify a property he would like to purchase and 180 days to close on it, from time of sale. In which form of co-ownership is a person's ownership inheritable? correct answers a. Joint tenancy b. Tena...

Real Estate- Maine Learning Group Equitable Right of Redemption - correct answer The right of a defaulted borrower to redeem the property after foreclosure proceedings have begun & before the foreclosure sale by paying off the loan balance, plus interest until the day of payoff & costs. Written Policy Manual - correct answer Identifies & describes the types of real estate brokerage relationships in which the broker & affiliated licenses may engage. (Maine requirement) National Association...

Why is the condition of bearing walls more important than non bearing walls? : Bearing walls support the ceiling and the roof. Owner Tom decided to lease out his basement to a college student. By leasing the basement, Tom has : transferred a portion of his bundle of rights What is a forecast of income and expenses that can be projected over five years? : Stabilized budget A buyer told broker Lena that she wants to move to Cuban neighborhood. Then the buyer asked if Lena could show her ...

Florida Real Estate Exam Graded A+ Samuel wants to do a 1031 exchange. He sold his investment property and has identified the property he'd like to buy next. Within how many days must he close on this property in order for it to qualify as part of the exchange? ️a. 180 b. 30 c.45 d.60 a. He has 45 days to identify a property he would like to purchase and 180 days to close on it, from time of sale. In which form of co-ownership is a person's ownership inheritable? ️a. Join...

Colibri Real Estate Practice Final Exam Questions with Verified Solutions Why is the condition of bearing walls more important than non bearing walls? Bearing walls support the ceiling and the roof. Owner Tom decided to lease out his basement to a college student. By leasing the basement, Tom has transferred a portion of his bundle of rights What is a forecast of income and expenses that can be projected over five years? Stabilized budget A buyer told broker Lena that she wants t...

Champions Real Estate Finance Exam (2024) || Questions & Answers (Rated A+) Champions Real Estate Finance Exam (2024) || Questions & Answers (Rated A+) Mortgage - ANSWER - A pledge of real property as security for a debt. Deed of Trust - ANSWER - A three party loan instrument - borrower, lender and trustee. Note, Promissory Note - ANSWER - A personal promise to repay a debt. Mortgagor - ANSWER - Borrower under a mortgage Mortgagee - ANSWER - Lender under a mortgage Beneficiary...

BF Cram Exam 5 Questions & Answers 2024 In which way are a mortgage and a mortgage note similar? A. both are non negotiable instruments B. both are debt reducing instruments C. both are contracts D. both promise to pay the debt and are instruments of conveyance - ANSWER-C. both are contracts All of the following are collateral (security) for the debt except: A. mortgage B. note C. security deed D. trust deed - ANSWER-B. note What type of foreclosure does a lien theory stat...