Floating lien - Study guides, Class notes & Summaries

Answers to all the Questions 1. Appropriate collateral for a loan secured under a floating inventory lien: 3. Drill presses (Generally, equipment like drill presses is more suitable for inventory liens than items like paper clips or file cabinets.) 2. Approximate annual interest rate on the commercial paper: To find the interest rate, use the formula:

Timeshare Test #3 100% Correctly Solved "Unit" as used in NRS 119A means: a. A lot of any size b. The total timeshare unit c. That portion of a project which is designated for separate use d. A tract of land consisting of 15 acres or more - Correct Answer ️️ -That portion of a project which is designated for separate use A timeshare resort having both whole unit owners and timeshare interest owners is referred to as: a. vacation destination resort b. tenancy in severalty resort ...

Timeshare Test #3 100% Correctly Solved "Unit" as used in NRS 119A means: a. A lot of any size b. The total timeshare unit c. That portion of a project which is designated for separate use d. A tract of land consisting of 15 acres or more - Correct Answer ️️ -That portion of a project which is designated for separate use A timeshare resort having both whole unit owners and timeshare interest owners is referred to as: a. vacation destination resort b. tenancy in severalty resort ...

An undivided share of the whole, plus "survivorship" rights (restricts inheritance to heirs of the last surviving owner)• Not available in every state - joint tenancy -Mortgage-Leases-Mechanics Liens-Private Deed Restrictions. are all known as - title encumbrances -Name grantor and grantee -Dated and signed -Consideration -Words of conveyance -Delivery -Receipt of delivery - requirements of a deed -Pay for specific improvements - a new alley, new utilities to the home, new sidewal...

"Unit" as used in NRS 119A means: a. A lot of any size b. The total timeshare unit c. That portion of a project which is designated for separate use d. A tract of land consisting of 15 acres or more - Answer-That portion of a project which is designated for separate use A timeshare resort having both whole unit owners and timeshare interest owners is referred to as: a. vacation destination resort b. tenancy in severalty resort c. timeshare trust d. mixed used resort - Answer-mixed us...

Actual vs Apparent Authority - Actual Authority - Given by the principal to the agent; can be express or implied; oral or written. Apparent Authority - When a third party reasonably assumes one is acting as an agent to another. Agency by Operation of Law - Sometimes, an agent is unable to reach the principal and has to make a rational decision quickly. This would be legally acceptable. An example would be an agent who is forced to buy $500 worth of plywood to cover a principal's home duri...

A __________ is a permanent change in one or more of the terms of a borrower's loan. Loan Qualification Loan Modification Loan Approval Loan Origination - ANSWER-Loan Modification What time period must borrowers have in job history with the same employer to qualify? 2 months 6 months 1 year 2 years - ANSWER-2 years Unscrupulous actions carried out by a lender to entice, induce and/or assist a borrower in taking a mortgage that carries high fees, a high interest rate, s...

Idaho state real estate test 100% correct In Idaho, a written notice is required before rent can be increased. On all periodic tenancies, the written notice must be given prior to the date the rent increase is to become effective and at least how many days before the end of the term? - Answer️️ - The landlord must give 15 days' written notice on all periodic tenancies. A landlord has had a substantial increase in property taxes. The written lease agreement is for six months. There are...

NYS Real Estate Exam Questions And Correct Answers. Complete Verified Solutions Which of the following is considered a fixed operating expense? utilities, cleaning expenses, insurance premiums, management fees. Insurance Premiums What is overage rent? Rent calculated on a percentage of sales volume what is the amount a buyer owes at closing equal to? The excess of the buyers debits over the buyers credits real estate agents are typically what kind of agent special agent what is the em...

When ordering an appraisal, it is illegal to... - ANSWER-Request that the appraiser return a minimum or specific value. Mortgage professionals are permitted to communicate their own or the borrower's opinion when ordering an appraisal; however, requesting a specific or minimum value is considered improper influence of an appraiser and is a serious ethical and legal violation. Borrower credit is... - ANSWER-An amount paid by the lender to borrower for locking an interest rate at a rate higher...