Question
1. Explain what rights, if any, a purchase-money lender has to pursue collection from a borrower's income or other assets after a shortfall from the
1. Explainwhat rights, if any, a purchase-money lender has to pursue collection from a borrower's income or other assets after a shortfall from the Trustee's Sale in foreclosure of the borrower's real property securing the loan,identifyingany California law(s) that define the lender's rights.
2. For resolving a dispute between brokers over the commission in a residential real estate transaction,specifythe dispute resolution process (as generally agreed to by the parties and as specified in the CAR Residential Purchase Agreement form discussed in class),and explainthe legal standard(s) for resolving the dispute.
3. Identify and defineeach of the three methods for obtaining formal legal permission from the applicable local government to use property in a manner contrary to or inconsistent with existing zoning/public restrictions on land use;explainwhich is likely to be least expensive/least involved to obtain, andexplainwhich is likely to last the longest.
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