Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need help with an assignment in Real Property class: In typical mortgage financing, who holds the title to the real estate during the mortgage

I need help with an assignment in Real Property class:

  1. In typical mortgage financing, who holds the title to the real estate during the mortgage period?
  2. The requirement that the grantor must have the mental capacity to carry out the transaction before a deed is considered to be valid is called what?
  3. A person who holds a special position of trust and confidence in another is what?
  4. Are Title insurance and hazard insurance the same thing?
  5. Are Closing attorneys not permitted to verify the borrower's Social Security Number?
  6. Does a tax foreclosure give the purchaser fee a simple absolute title?
  7. A sworn statement that there have been no changes, improvements or boundary line changes to the property since the date of the last survey is called what?
  8. Is a restrictive covenant a contract?
  9. Do many towns have the power to create ordinances that restrict the way that private subdivisions can be developed?
  10. Does the U.S. and state constitutions authorize the collection of taxes?
  11. A relationship that is created when a person is unable or unwilling to conduct business on her behalf and instead retains another person to act for her is called what?
  12. This duty requires the agent to act in the best interests of the principal and to avoid situations where there is a conflict of interest between the agent's desires and the principal's needs is called what?
  13. Most real estate agents are not licensed by the state, true or false?
  14. The document that sets out both the contractual obligation between buyer and seller and serves as the written expression of the transfer of legal rights in real property is called what?
  15. An important or central fact in the contract or business negotiations that if fully revealed, would change the outcome of the transaction is called what?
  16. Real estate financing is virtually identical to financing other types of property, such as automobiles is true or false?
  17. Federal Truth in Lending laws do not apply to mortgages is true or false?
  18. When filing documents after a closing, the sequence is important. Which document is usually filed first?
  19. Agents who fail to provide proper care and diligence for their principals can be sued by the principal, true or false?
  20. In many states, non-lawyers can conduct closings, true or false?
  21. Under Dodd-Frank, the person who handles the closing or consummation is known as a settlement agent, true or false?
  22. Quitclaim deeds make no representations about the quality of the title conveyed, true or false?
  23. Holes or breaks in the chain of title are a common problem faced by title searchers, true or false?
  24. An exception to zoning regulations created when local government wishes to encourage business development is called what?
  25. All of the following are reasons for zoning regulations except:

Promote health and morals

Reduce traffic congestion

Emphasize safety, fire, and other hazard

26. Tax liens take priority over all other claims, whenever filed, true or false?

27. The Environmental Protection Agency is responsible for policing real estate agents, true or false?

28. Liens can affect whether a property can be conveyed, true or false?

29. This zoning category covers business establishments and focuses on square footage, fire and safety issues is called what?

30.Most sales statements are not considered to be misrepresentations.

31. Lending institutions that routinely accept mortgages from borrowers in order to finance the purchase of real estate are said to be in what market?

32. What type of real estate agent can carry out the full range of activities normally associated with real estate transactions that fall under the category of agent?

33. Under Dodd-Frank (or TRID) "settlement" and "closing" are the same thing, true or false?

34. What is the process of updating a previous title search called?

35. Some governments create tax incentives to attract businesses to their communities. What are these incentives called?

36. The person responsible for determining fair market value for tax purposes is called?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Criminal Law Cases And Materials

Authors: Joshua Dressler, Stephen Garvey

9th Edition

1647087708, 978-1647087708

More Books

Students also viewed these Law questions