Grantor or mortgagor - Study guides, Class notes & Summaries

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...

(Summary) Pearson Vue Real Estate Utah,Over 500 Questions And Correct Answers. Complete Verified Solution Errors and Omissions (E&O) Insurance Protects companies and their workers or individuals against claims made by clients for inadequate work or negligent actions Puffing extravagant claims made by sellers in order to attract buyers Due on sale clause a stipulation in a mortgage or deed of trust, requiring a borrower to pay the entire loan balance upon the sale of the property for whic...

KY Real Estate Exam Already Graded A+ Accretion ️Increase of land by deposit of sand or soil washed up naturally from a river, lake or sea ADA Tenant ️Tenant with disability. Must accommodate for tenants/residents with disabilities. Priority is to get party to the door. Can make changes, must be giving parking if available, do not have to ask to make changes Alienation ️Payment of debt if property is sold Bilateral Contract ️All parties are legally bound to to act as prescrib...

Tennessee National Portion REAL ESTATE EXAM Latest 2024 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...

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 ...

Module 2: Idaho Real Estate (2023/2024) Already Passed Appraisal The process of estimating and supporting an opinion of value as of a certain date. Market Value A real estate appraiser estimates the market value or fair market value 4 Characteristics of Demand 1. Demand 2. Utility 3. Scarcity 4. Transferability Anticipation The value of a property may increase or decrease based on potential purchaser's belief that some future event will benefit or detract from the value of the property Chan...

addendum - Answer an addendum is a document attached to and made part of the original contract it is important to do what when adding an addendum? - Answer always be accurate and specific about what is being added or modified, including which contract will be affected. licensed real estate agents should? - Answer be able to identify when they are able to provide assistance to their clients as well as when they should recommend the use of a professional every loan for real estate is made...

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

CERCLA Liability Rules Hazardous Substance Liability 1. Owner 2. Prop Manager 3. Cleaner of the Facility Fair Credit Reporting Act A federal law that established procedures that consumer-reporting agencies must follow in order to ensure that records are confidential, accurate, relevant and properly used. Truth in Lending Act An act which requires lenders to inform borrowers of all direct, indirect and true costs of credit. Equal Credit Opportunity Act (ECOA) The federal...

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 in which the buyer and seller are both represented...