RECA Fun damentals Of Real Estate Unit 7 Questions And Answers With Verified Solutions Already Passed!!! certificates lis pending - ANSWER✔✔ Registered against the title, provides notice that litigation is in progress regarding the land. This often results from some type of pending financial claim against the owner Writs of e nforcement - ANSWER✔✔ Written directive from the court issued against a property title, is issued when a claimant successfully sues a debtor resulting in the claimant favour Torrens system - ANSWER✔✔ Adopted in 1887 for use as its first land title registr ation system. was created to provide security of title and to facilitate land transactions. benefits... provides security of title, Eliminates time consuming title searches , Results in efficient and economical transfer of real property 3 p's of contracts - ANSWER✔✔ Parties, Property, Price innocent Misrepresentation - ANSWER✔✔ occurs when one party makes a false or incorrect statement without being aware its false Negligent misrepresentation - ANSWER✔✔ Occurs when on party makes a false representation t hey claim is accurate, which the other party then releases upon without seeking conformation
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