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14. A common document used to eliminate the lien of a land sale contract is a a. Satisfaction b. Option c. Trust Deed d. Mortgage
14. A common document used to eliminate the lien of a land sale contract is a a. Satisfaction b. Option c. Trust Deed d. Mortgage 15. Legal title, when a land sale contract is used, is held by the a. vendor b. vendee c. buyer d. grantee 16. A separate and distinct promissory note is NOT required when which of the following are used? a. mortgage b. trust deed c. land sale contract d. all of the above require a separate and distinct promissory note. 17. A due on sale clause means: a. If the property is sold, the existing loan is added to the new loan. b. When you sell the property, the current loan must be paid off at the time of sale. c. It does not matter because you can continue to make the standard payment. d. All the above
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