Grantor or mortgagor - Study guides, Class notes & Summaries

A brother and sister bought a commercial building and took title as joint tenants with right of survivorship. The brother died. The sister now owns the building: A. as a joint tenant with right of survivorship with her brother's heirs B. in severalty C. as a tenant in common with her brother's heirs D. as a life tenant with her brother's heirs having remainder interests - Answer-B. in severalty A building is valued at $215,000 and contains four apartments that rent for $470 each per mon...

Can a notary take the acknowledgement to an instrument in which he himself has an interest? - Answer No. Can a notary notarize an instrument when he is out of the physical boundaries of the State of Ohio? - Answer No. Can a notary witness the signature and take acknowledgement in another State, then make the certification in his own State? - Answer No. May a notary take the acknowledgement of a relative, even a wife or husband, if he himself has no interest in the transaction? ...

Pact de non Alienando - ANSWER-Clause contained in the mortgage or other encumbrance agreement whereby the obligor agrees not to sell, engage, alienate or mortgage the same property to other persons to the prejudice of the mortgage Corporate Resolution - ANSWER-An official written certificate of the corporations secretary that the resolution was adopted by the corporations board of directors Confession of Judgment - ANSWER-A person's agreement in a mortgage to the entry of judgment if he ...

Tennessee National Portion REAL ESTATE EXAM Latest 2023 Graded A+, Over 1500 Questions And Correct Answers A corporation is a legal entity that can buy and sell real estate as set out in its charter. Ownership in severalty is property owned by one individual or corporation. A house is owned by three joint tenants, and one of the owners, as permitted by state law, sells that interest to a new owner. The result is a tenancy in common between the new owner and the remaining joint tenants T...

National Real Estate Exam Prep Latest Update with Verified Solutions Unilateral Contract Contract containing ONE promise given in exchange for completing an act. NO obligation to act. Bilateral Contract Contract containing TWO promises. Example: A listing agreement is a bilateral contract Client/Principal A person who has entered into an agency relationship w/ a licensee & with whom there is a written contract Customer Any 3rd party w/ whom a licensee works In-Company Transaction Transaction...

Florida Real Estate Vocabulary Guaranteed Success Assignor A person who transfers a legal right to another Grantor Party giving the deed that conveys title Grantee Party receiving the deed and acquiring the title Lessor Landlord who gives lease Lessee Tenant who receives lease Lienor Person who has a claim on another's propert Lienee Person whose property is subject to a claim or charge by another Mortgagor Borrower who gives note and mortgage to obtain a loan Mortgagee Lender...

National Real Estate Exam Prep With Correct Answers Unilateral Contract - answerContract containing ONE promise given in exchange for completing an act. NO obligation to act. Bilateral Contract - answerContract containing TWO promises. Example: A listing agreement is a bilateral contract Client/Principal - answerA person who has entered into an agency relationship w/ a licensee & with whom there is a written contract Customer - answerAny 3rd party w/ whom a licensee works In-Company Tra...

2024 Louisiana Notary Exam Part 1, Louisiana Notary Prep NEWEST 2024 ACTUAL EXAM 576 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ASNWERS) |ALREADY GRADED A+ Pact de non Alienando - Answer- Clause contained in the mortgage or other encumbrance agreement whereby the obligor agrees not to sell, engage, alienate or mortgage the same property to other persons to the prejudice of the mortgage Corporate Resolution - Answer- An official written certificate of the corporations secretary that...

Ohio Notary Public Test Latest 2024 Graded A+ Can a notary take the acknowledgement to an instrument in which he himself has an interest? - Answer ️️ -No. Can a notary notarize an instrument when he is out of the physical boundaries of the State of Ohio? - Answer ️️ -No. Can a notary witness the signature and take acknowledgement in another State, then make the certification in his own State? - Answer ️️ -No. May a notary take the acknowledgement of a relative, even a wife or ...

National Real Estate Exam Prep With Correct Answers Unilateral Contract - answerContract containing ONE promise given in exchange for completing an act. NO obligation to act. Bilateral Contract - answerContract containing TWO promises. Example: A listing agreement is a bilateral contract Client/Principal - answerA person who has entered into an agency relationship w/ a licensee & with whom there is a written contract Customer - answerAny 3rd party w/ whom a licensee works In-Company Tra...