Defeasance clause - Study guides, Class notes & Summaries
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ASREB SCHOOL EXAM QUESTIONS AND ANSWERS
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ASREB SCHOOL EXAM QUESTIONS AND ANSWERS 
 
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: 
Honesty 
...
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GOLD COAST FINAL EXAM STUDY SET for 4/11 [100% Correct]
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GOLD COAST FINAL EXAM STUDY SET 
for 4/11 [100% Correct] 
1 acre is how many square feet? *Ans* 43,560 
A broker is entitled to compensation if they... *Ans* bring a buyer who brings an offer the 
seller was looking for 
A buyer drops off an escrow check on Monday. To avoid any trouble with FREC, the broker 
must deposit the check by close of business on which day? *Ans* Thursday 
A spouse who is left out of a will can claim? *Ans* Elective share 30% 
Abstract Continuation *Ans* history of ti...
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Champions Real Estate Finance Exam Questions and Answers 2023
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_____ is the consummation of a contractual real estate transaction in which all appropriate documents are signed, and the mortgage loan proceeds are disbursed by the lender. - Answer- Closing 
 
The primary determinants of real estate values are supply and _____. - Answer- Demand 
 
_____ is something of value that can be pledged as security for repayment of a loan. - Answer- Collateral 
 
Servicing includes which of the following activities? - Answer- Maintaining records of payment 
 
The monet...
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Champions real estate finance Exam Questions with Verified Answers
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mortgage Broker - Answer- Functions as a middleman between the borrower and the lender, negotiating, selling or arranging loans to be delivered to large investors 
 
Mortgage Banker - Answer- Provide their own funds for the purpose of providing mortgage financing 
 
Correspondent Lender - Answer- Smaller in scale then mortgage bankers or brokers, these lenders typically extended loans with their own funds at their own risk 
 
Origination - Answer- The process of creating a new mortgage loan 
 
U...
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NYREI Exam Prep Exam Latest Version 2024/2025 Expert-Verified Q&As
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A "Rule" that says an informed buyer will not pay more for one home than a comparable one is - 
Substitution 
A borrower pays off his loan. However, the lender refuses to cancel the mortgage. Which of the 
following clauses of a mortgage has the lender violated? - Defeasance clause 
(A defeasance clause states that when the loan is paid, the mortgage is void. The bank's failure to cancel 
the mortgage of record is a violation of this clause. The habendum clause is the "to have and to hold" ...
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ASREB National Test A-3 Questions and Answers Already Passed
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ASREB National Test A-3 Questions and 
 
Answers Already Passed 
 
A buyer sees a worn path across the property he is interested in buying. The buyer should be 
concerned about: 
Easement in gross 
Easement by prescription 
Condemnation 
 
Police Power Easement by prescription 
 
A chronological summary of title is called 
Deed report 
Abstract of title 
ATLA policy 
Title insurance report Abstract of title 
 
A clause in a deed which specifies the degree of property conveyed is called: 
Defeasa...
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Colorado Real Estate Exam Unit 12- 9% Residential Mortgages Practice Questions and Answers
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What method of settling a default involves a conveyance of title to the lender? - deed in lieu of foreclosure 
A way for the mortgagor (borrower) to avoid foreclosure. The borrower who is in default under the terms of the mortgage gives a deed to the lender - a deed in lieu of foreclosure 
When a promissory note is executed, it becomes - evidence of the debt 
The legal instrument that represents the primary evidence of a debt - promissory note 
A mortgage clause (in title theory states) that pro...
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NJ REAL ESTATE PRACTICE EXAM 2021
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NJ REAL ESTATE PRACTICE EXAM 2021 
 
The type of deed that warrants only that the grantor has not impaired the title during the term in which he held it is referred to as. 
 
1. Quitclaim Deed 
2. General Warranty Deed 
3. Bargain and Sale Deed 
4. Bargain and Sale Deed, CAG - ANS Bargain and Sale Deed, CAG 
 
Taxes raised to pay for improvements that benefit real estate are referred to as 
 
1. Special Assessments 
2. Facilities Taxes 
3. Ad Valorem Taxes 
4. Luxury Rates - ANS Spe...
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New Jersey Real Estate Practice Exam 2024 | Questions with 100% Correct Answers | Verified | Latest Update | 25 Pages
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The type of deed that warrants only that the grantor has not impaired the title during the term in which 
he held it is referred to as. 
1. Quitclaim Deed 
2. General Warranty Deed 
3. Bargain and Sale Deed 
4. Bargain and Sale Deed, CAG - Bargain and Sale Deed, CAG 
Taxes raised to pay for improvements that benefit real estate are referred to as 
1. Special Assessments 
2. Facilities Taxes 
3. Ad Valorem Taxes 
4. Luxury Rates - Special Assessments 
After Borrowers have indicated an intent to p...
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GA MLS Real Estate Practical Final Exam Latest Update with Verified Solutions
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GA MLS Real Estate Practical Final 
Exam Latest Update with Verified 
 
Solutions 
 
"Assume and Agree" to Pay Assuming borrower defaults payment, the bank will go to 
assuming borrower for the payment 
If the bank cannot collect from the assuming borrower, they will go to the original borrower 
 
"Subject to" Existing Mortgage Assuming borrower will give/pay the seller equity upfront 
If assuming borrower fails payment, original borrower liable 
 
Acceleration Clause The clause un a mortgag...
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