Alienation clause - Study guides, Class notes & Summaries

Federal and State Exam Terms for Idaho Real Estate (2023/2024) Rated A Abstract of Title The condensed history of a title to a particular parcel of real estate, consisting of a summary of the original grant and all subsequent conveyances and encumbrances affecting the property - certification by the abstractor that the history is complete and accurate. 213 Acceleration Clause Clause in a mortgage or deed of trust that can be enforced to make the entire debt due immediately if the borrower defau...

Which of the clauses gives a lender the right to declare the entire debt due and payable if the mortgaged property is either assumed without lender approval or sold with a contract for deed without lender approval - Answer alienation clause A woman owns a tract of land that also is a servient tenement. The easement over, through, or under the tract is a(n) - Answer encumbrance In an exclusive-right-to-sell agreement, how many brokers are involved? - Answer one

When a deed in lieu of foreclosure is given to a lender, which of the following is true? - correct answer Time and cost are less B buys land from W using a deed of trust as security for the carryback. B makes all the payments except the final three and is now in default. W does nothing and decides not to foreclose until later. By doing this W is exercising his right of: - correct answer Forbearance A commercial building is sold in a foreclosure for $100,000 less than the balance due th...

National Exam - Practice of Real Estate Questions and Answers Graded A+ Practice of Real Estate Civil Rights act of 1866 prohibit racial discrimination in all conveying of real and personal property Practice of Real Estate in regards to convicted drug dealers... they are NOT covered under any condition under the federal fair housing act of 1968 and the amendment in 1988, authorized administrative law judges may now... admin law judges within HUD may now hold contested case hear...

NMLS 2024 Exam Questions with Correct Answers What law deals with credit, APR & advertising of consumer loans? - Answer-TILA/REGULATION Z Which regulation prohibits kickbacks? - Answer-RESPA Which regulations requires the lender to cancel PMI when the loan reaches 78% LTV? - Answer-HPA - Homeowners Protection Act Which regulation prohibits fee splitting? - Answer-RESPA Regulation X is the letter used to describe which Law? - Answer-RESPA RESPA is the acronym used to describe w...

Which federal law requires that the Loan Estimate be provided to the borrower within three business days of the time of loan application is taken? - ANSWER-TILA What type of scam entails homeowners who are encouraged to refinance their property over and over until little or no equity remains? - ANSWER-Loan flipping or churning After a loan closing, funds are disbursed. When are the funds disbursed for an owneroccupied, residential refinance? - ANSWER-After 3 business-day rescission period W...

COLORADO REAL ESTATE EXAM REVIEW QUESTIONS & ANSWERS. GRADED A+/ VERIFIED. every valid contract must meet all of the following requirements except - -earnest money to have a valid contract four elements are needed - -1) competent parties 2) mutual consent 3) legal consideration 4) legal object mutual consent - -the offer and acceptance of the offer legal consideration - -promises, something of value, an act, giving up the right to act, etc, legal object - -the parties are agreeing t...

NMLS STUDY GUIDE QUESTIONS 2024. Acceleration Clause - correct answer Allows lenders to demand payment in full if the borrower defaults on the loan (can be construed as predatory lending) Alienation Clause (Due on Sale Clause) - correct answer Says you must repay your mortgage if you sell your home to a new owner (loan is not assumable) Appraiser Independance Requirements replaced HVCC - correct answer home valuation code of conduct Due on Demand Clause - correct answer (Considered a ...

Colorado Law and Practice - Psi Real Estate Exam Already Passed Abandonment Non-payment of taxes Abstract of title A history of the ownership of parcel of land which lists transfers of title, rights, and liabilities. Acceleration Clause Upon default, all the principal installments come due to immediately Accesion owner of land is entitled to all the soil produces or all that is added to the land either intentionally or by mistake. Trade fixtures not removed are "assessed" by the owner of th...

Real Estate- Maine Learning GroupEquitable Right of Redemption - correct answer The right of a defaulted borrower to redeem the property after foreclosure proceedings have begun & before the foreclosure sale by paying off the loan balance, plus interest until the day of payoff & costs. Written Policy Manual - correct answer Identifies & describes the types of real estate brokerage relationships in which the broker & affiliated licenses may engage. (Maine requirement) National Association o...