Vendee - Study guides, Class notes & Summaries

Requirement for becoming a CA Notary Public? -Answer- 1) Legal resident of California. 2) At Least 18 y.o. 3) Complete State-Approved Course (6hrs) (3hr for Renewal) 4) Pass Written Exam 5) Background Check 6) Fill out Application 7) Disclose arrests & Convictions Function of Notary -Answer- Primarily to authenticate the identity of a signer. An impartial witness that takes oaths & affirmations, and other acts authorized by law. Minimum amount for Notary Bond -Answer- $15,000 from CA...

A borrower has defaulted on the mortgage. The mortgage contains an acceleration clause. This permits the lender to do what? - demand immediate payment of the entire note A broker has brought a ready, willing, and able buyer to a seller. In MOST listing contracts, the broker has earned his commission when what happens? - the seller accepts the offer. A broker lists a property, with a listing contract allowing subagency and dual agency. One of the broker's salespersons shows the property. Th...

Notary Final Exam Questions and Answers 100% Pass Total Commission fee for appointment of notary public - Correct Answer ️️ -$60 ($20 for filing oath of office - which goes to county clerk) and $40 for appointment (which goes to secretary of state) Change of name or Address - Correct Answer ️️ -$10 Duplicate Identification Card - Correct Answer ️️ -$10 Filing Certificate of official character - Correct Answer ️️ -$10 Issuance of Certificate of official character - Correct...

Regulation Z Answer The regulations issued under the Truth-in Lending Act that set forth the specific requirements that a lender must follow in order to comply with the Truth-In-Lending law. Revolving Debt Answer A type of credit arrangement in which a consumer is pre-approved for a line of credit and they may make purchases against that credit. The Lender is also know as the: Answer Mortagee (lien theory/mortgage), beneficiary (title theory/deed of trust), grantor, vendor (land contract)...

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 ...

What is the relationship between the notary and signer? to authenticate the signer's identity You ______ need to be a US citizen. You_______ need to be a CA resident. You DO NOT need to be a US citizen. You DO need to be a CA resident. 00:02 01:34 Fine: No ID & Perjury $10Gs $10,000 Fine: fail to notify about name and address change $500 Fine: for overcharging $750 Fine: AWI-- advertising, willful, immigration $1,500 Fine: thumbs and gu...

A contract is an exchange of promises between two or more parties to ______________. - Answer do or refrain from doing an act. For a real estate contract to be valid and enforceable in court it must contain certain elements. Which is not an element for an enforceable real estate contract? a. consideration b. lawful purpose c. mutual agreement d. all persons must reside in the same state - Answer d. all persons must reside in the same state Failure to fulfill the promises contained...

Te-Ga's Notary Exam Terms Shorten Questions and Answers 100% Pass Administrator (picked by the COURT for the will) - Correct Answer ️️ -A person appointed BY THE COURT to manage the estate of a deceased person who left no will. Affiant (SIGNATURE TO AN AFFIDAVIT) - Correct Answer ️️ -The person who makes and subscribes his signature to an affidavit. Affidavit (signed before officer/ Notary Public) - Correct Answer ️️ -A signed statement, duly sworn to, by the maker thereof, b...

The Uniform Vendor and Purchaser Risk Act refers to what relationship? - ANSWER-The vendor and vendee difference between vendor and vendee - ANSWER-vendor=seller in land contract purchase vendee= buyer in land contract purchase Prior to closing an escrow or signing of NV sales contract, you must be notified of the zoning - ANSWER-true A NV gaming overlay map is REQUIRED to be given to all new home sales - ANSWER-false. Only new home sales in a county of 700,000 + Home developers mu...

Hangar Area - Area adjoining a facility that is used to store and/or repair aircraft. For the purpose of these Regulations, is considered part of the Secured Area. ID Badging Office - The location where Airport Access Control System Airport ID Badges are issued. The O'Hare Office is located on the l o w e r l e v e l of Terminal 3 near Elevator Center 6. The Midway Office is located at the CDA Security Office, 5221 W. 55th St., on the 2nd floor. Jet Blast - The exhaust th...