Defeasance clause - Study guides, Class notes & Summaries

The priority of a lien is, in the absence of fraud, created as of the date it was: - Recorded "Gross income" best describes: - Income before expenses "Net income" best describes: - Income after expenses Quiet Enjoyment" in a lease means: - The lease will not be terminated if the building is sold "The rate" refers to: - The rate of return used by investors 1 section equals - 1 square mile 1 square mile equals - 640 acres 1 square yard equals - 9 sqft 1760 yards equals - 1 mile 197...

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...

ASREB SCHOOL EXAM QUESTIONS AND ANSWERS 100% PASS When a tenant moves out of a rental unit due to an electrical fire that was not their fault this would be called? Constructive eviction A property manager is considered what type of agent? General agent If a dwelling is damaged or destroyed by fire how many days must the tenant give the landlord to terminate the rental agreement? 14 A real estate broker is normally what type of agent? Special A broker's duty to a third party would be...

1 OHIO REAL ESTATE EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE. VERIFIED/ What type of land use does NOT comply with the zoning restriction for its location, but is permitted because it benefits the public? - -Conditional Use Conditional uses (hospitals, schools, etc.) usually do not comply with zoning limitations. loan amount - -The amount the lender is risking is the loan amount, which is: Purchase Price - Down Payment = Loan Amount. What is NOT a feature of an FHA-insured loan?...

Federal interstate land sells Full Disclosure Act - applies to all unimproved land sold interstate. If a buyer or tenant does not receive this report before signing, he may void his contract or lease Appraisers Principles to Value (9) - Highest and Best use, Principle of Substitution, Principle of Conformity, Principle of Increasing and Decreasing Returns, Principle of Contribution, The Principle of Regression, The principle of Competition, The Principle of Change, The Principle of Anticipat...

Florida Real Estate Chapter 12 review questions with 100% correct answers This refers to pledging of property as security for payment of a loan without surrendering possession of the property - Correct Answer ️️ -hypothecation What are the 2 instruments involved in a mortgage loan - Correct Answer ️️ - promissory note mortgage The legal instrument that represents the evidence of a debt is known as the - Correct Answer ️️ -promissory note The instrument that pledges the prope...

1 OHIO REAL ESTATE EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+ Which would a buyer prefer: Land installment contract or purchase money mortgage? - -purchase money mortgage - the buyer will receive the deed to the property on the day of closing. -A purchase money mortgage does not transfer any title to the buyer; rather, it is a method by which the seller finances the transaction. -In a land installment contract, the buyer does not receive the deed until the final payment is made. A ...

Real Estate Finance Test of the following clauses in a loan agreement enable the lender to demand the entire remaining dept be paid immediately EXCEPT a/n a. due-on-sale clause b. alienation clause c. defeasance clause d. acceleration clause - ANSWER defeasance clause A real estate loan payable in periodic installments that are sufficient to pay the principal in full during the term of the loan is called a a. straight loan b. partially amortized loan c. conventional loan d. fully am...

Real Estate Finance – Champions Questions and Mortgage - ANSWERSA pledge of real property as security for a debt. Deed of Trust - ANSWERSA three party loan instrument - borrower, lender and trustee. Note, Promissory Note - ANSWERSA personal promise to repay a debt. Mortgagor - ANSWERSBorrower under a mortgage Mortgagee - ANSWERSLender under a mortgage Beneficiary - ANSWERSLender under a deed of trust Trustor - ANSWERSBorrower under a deed of trust Trustee - ANSWERSA third...

Gold Coast Real Estate Homework Chapter 12 100% SOLUTION 2023//2024 Which legal instrument evidences the debt and states the interest rate, term, payment requirement, and other information related to the loan? (a) Promissory note (b) Contract (c) Lien (d) Mortgage - ANSWER (a) Promissory note What is the function of a mortgage? (a) It conveys title to real property. (b) It secures the repayment of the debt. (c) It creates a personal pledge to repay a loan. (d) It creates a lien ...