Question
1. In which of the following types of leases is the landlord responsible for maintenance only? Gross Lease Single Net Lease Double Net Lease Triple
1.
In which of the following types of leases is the landlord responsible for maintenance only?
Gross Lease | ||
Single Net Lease | ||
Double Net Lease | ||
Triple Net Lease |
2.
Which of the following deed types protects the buyer from encumbrances that arose during the time the current grantor held title?
general warranty deed | ||
special warranty deed | ||
quitclaim deed | ||
all of above provide the same level of protection |
3.
"If a borrower in a recourse state defaults on a mortgage that contains an exculpatory clause and the lender receives less than the amount owed on the mortgage when the property is sold, the lender will "
do nothing since the lender is limited to the proceeds from the sale of the property | ||
seek the difference from the borrower s title insurance company | ||
file for bankruptcy protection | ||
take legal action against the borrower to recover the difference |
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