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ASREB National Test A-4 Questions and Answers 100% Verified

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ASREB National Test A-4 Questions and Answers 100% Verified Recording easements do which of the following? Place an encroachment on the property Place an encumbrance on the property Place a lien on the property Places a deed restriction on the property Answer-Place an encumbrance on the prope...

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  • August 9, 2024
  • 23
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • ASREB
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ASREB National Test A-4 Questions and Answers 100%
Verified
Recording easements do which of the following?

Place an encroachment on the property

Place an encumbrance on the property

Place a lien on the property

Places a deed restriction on the property Answer-Place an encumbrance on the property




To pledge real property as collateral is called:

Hypothecate

Devise

Demise

Descent Answer-Hypothecate




Which of the following is an encumbrance?

Assignment

License

Note

Mechanics lien Answer-Mechanics lien




All of the following would be a lien on real property EXCEPT:

Lease for years

First mortgage

, ASREB National Test A-4 Questions and Answers 100%
Verified
Property Taxes

Property Assessment Answer-Lease for years




What lien would be ahead of a lender's first mortgage?

Mechanics Lien

Property taxes

Special Assessment

Judgment Answer-Property Taxes




When a debt will be paid off by making constant level payments, this is called:

Interest only

Blanket loan

Graduated payment

Amortized loan Answer-Amortized loan




Which of the following listed below best describes the purpose of a trustee?

Hold the note in a mortgage

Foreclose in a deed of trust

Act as a lender in an agreement for sale

Enforce property deed restrictions Answer-Foreclose in a deed of trust

, ASREB National Test A-4 Questions and Answers 100%
Verified
If a lender is doing business in a lien theory state, which of the following is true?

Legal title is held by the beneficiary

Legal title is held by the mortgagee

Legal title is held by mortgagor

Legal title is held by the trustor Answer-Legal title is held by mortgagor




When a loan is secured by a deed of trust, who holds the deed of trust documents?

Mortgagee

Mortgagor

Trustor

Beneficiary Answer-Beneficiary




Which of the following would not be part of a deed of trust?

Alienation

Defeasance

Acceleration

Habendum Answer-Habendum




A buyer is buying a business that includes real and personal property. The type of loan the buyer
would obtain is called:

Blanket

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