Delaware Real Estate Law Final Exam 2024 Questions and Verified Answers (2024 / 2025) 100% Guarantee Pass
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Course
Delaware Real Estate
Institution
Delaware Real Estate
Delaware Real Estate Law Final Exam Questions and Answers Loan to Value Ratio - Answer️️ -Amount of the loan vs value of real estate Who is the Devisee under a Will? - Answer️️ -Devisee under will is person who receives property under a will (maker of will is devisor) What are the Requireme...
Delaware Real Estate Law Final Exam Questions and Answers.pdf file:///C:/Users/HP/Desktop/New%20folder%20(4)/Delaware%20R
Delaware Real Estate Law Final Exam
Questions & Answers
1. Loan to Value Ratio
Answer Amount of the loan vs value of real estate
2. Who is the Devisee under a Will?
Answer Devisee under will is person who receives property under a will (maker of will is
devisor)
3. What are the Requirements for a valid deed in DE
Answer The deed has to be in writing
The deed has to describe property with specificity The deed
must have the name of grantor and grantee
The deed must be signed and must be acknowledged(notarized)
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4. What are the advantages vs. disadvantages of investing in Real Estate?
Answer -
Disadvantage - investment is not liquid (there is no cash out advantage)
Advantage - ability to control investment (sole decision maker of what happens with property)
5. What is a Subordination Agreement?
Answer An agreement that changes lien priority
6. Who gets the money left over after a mortgage foreclosure sale?
Answer The person who took out the loan is entitled to remaining balance if property sale
amount exceeds existing mortgage owed
7. What is equity in a property?
Answer the difference between amount of debt on the property and the value of the property
8. What title does the buyer have when the buyer and seller have a fully signed agreement
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of sale?
Answer equitable title
9. What does rescind mean?
Answer It means to cancel (rescinded offer = cancelled offer)
10. What is an Executory contract
Answer A contract that has a number of conditions that have to be satisfied
- you don't have a fully executed contract until all conditions are fulfilled
11. What is Power of Attorney?
Answer One person designates another person to repre- sent and sign documents on their
behalf
12. Who signs the deed?
Answer Only the Grantor(seller) signs the deed
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