Question 1

An obstacle to clear title in real estate is called a ____________ .​

Accepted Answer

cloud on title

Question 2

The standard real estate commission paid a listing broker/agent is 6%. That amount is;​

Accepted Answer

A) negotiable 
B) standard by federal law. 
C) standard by state law. 
D) standard by HUD administrative rule. 
A) negotiable 
B) standard by federal law. 
C) standard by state law. 
D) standard by HUD administrative rule. A

Question 3

Tran conveyed to Liu all his ownership interest in his real property but when he did so he made no promise that he had conveyed anything. Liu received a​

Accepted Answer

quitclaim deed

Question 4

One advantage to a fixed-rate mortgage is that the lender typically will not charge the borrower any loan origination fee. ​

Accepted Answer

A) True 
 B)False

Question 5

All the money necessary to complete the purchase of a home, above and beyond the net amount of the new mortgage loan, and whether used for payment of "garbage fees," reimbursement to seller of prepaid property taxes, or for part of the purchase price, is called the ________________ .​

Accepted Answer

The answer of All the money necessary to complete the...

Question 6

Monthly payments on home mortgages often include, PITI, Principal, Interest, Property Taxes, and ________________ .​

Accepted Answer

homeowners

Question 7

The forced sale of real property following a court proceeding is called a:

Accepted Answer

A) judicial foreclosure. 
B) deficiency judgment. 
C) right of redemption. 
D) real estate owned. 
A) judicial foreclosure. 
B) deficiency judgment. 
C) right of redemption. 
D) real estate owned.

Question 8

A homeowner desires to sell his or her home and signs an exclusive-listing agreement, requiring  payment of a six percent commission to the real estate agent. If shortly thereafter, but before the  agent has time to do anything to sell the property, the owner surprisingly finds a couple who  purchases it for $400,000, the homeowner ​

Accepted Answer

A) must pay $24,000 to the listing agent. 
B) is legally required only to reimburse the agent for out-of-pocket expenses. 
C) has lucked out and need not pay any commission to the agent, because the agent hadn't done anything yet. 
D) must pay the $24,000 commission only if the agent had acted with due diligence by placing the listing in the local multiple-listing service. 
A) must pay $24,000 to the listing agent. 
B) is legally required only to reimburse the agent for out-of-pocket expenses. 
C) has lucked out and need not pay any commission to the agent, because the agent hadn't done anything yet. 
D) must pay the $24,000 commission only if the agent had acted with due diligence by placing the listing in the local multiple-listing service.

Question 9

Sometimes a homeowner who becomes wholly unable to make mortgage payments can protect his or her credit rating by giving the lender a(n) __________________​.

Accepted Answer

deed in li

Question 10

A document used to transfer ownership interest in real property is called a deed and it has different legal significance than a contract.​

Accepted Answer

A) True 
 B)False

Question 11

The grantor promises that he or she will transfer all they own, but do not guarantee they own  anything. They have transferred property with a ​

Accepted Answer

A) quitclaim deed. 
B) as is deed. 
C) grant deed. 
D) warranty deed.​ 
A) quitclaim deed. 
B) as is deed. 
C) grant deed. 
D) warranty deed.​

Question 12

A homeowner's monthly mortgage payment often includes or combines sums of money for payment of property taxes and casualty insurance with the sum for principal and interest on the mortgage. ​

Accepted Answer

A) True 
 B)False

Question 13

A(n) _ _ _ _ _ _ _ _ _ _ _ gives a person the right to make limited use of another person's real property, such as driving a car over it.​

Accepted Answer

The answer of A(n) _ _ _ _ _ _...

Question 14

A judgment against a debtor for the unpaid balance still due after judicial foreclosure of a real estate mortgage is called a right of redemption.​

Accepted Answer

A) True 
 B)False

Question 15

A due on sale clause ​

Accepted Answer

A) triggers payment of any unpaid balance on home loan. 
B) requires a seller to pay for title insurance. 
C) requires a seller to sign an appropriate deed. 
D) is a form of quiet title action. 
A) triggers payment of any unpaid balance on home loan. 
B) requires a seller to pay for title insurance. 
C) requires a seller to sign an appropriate deed. 
D) is a form of quiet title action.

Question 16

A foreclosure is a process by which secured real property is confiscated at the direction of the unpaid creditor and sold to the highest bidder​

Accepted Answer

A) True 
 B)False

Question 17

_______________ is money or other property made available as security by a debtor to a creditor, through physical possession or legal right, to guarantee repayment of a loan.​

Accepted Answer

The answer of _______________ is money or other property made...

Question 18

In general, home sales have changed from a "Let the buyer beware" to a "Let the seller beware" market.

Accepted Answer

A) True 
 B)False

Question 19

State laws provide that all documents that affect the ownership of, or possession of, real estate may be _________________ in public official records.​

Accepted Answer

The answer of State laws provide that all documents that...

Question 20

A real estate agent employed by the buyer to find attractive homes to purchase is called the listing agent.​

Accepted Answer

A) True 
 B)False

An obstacle to clear title in real estate is called a ____________ .

The standard real estate commission paid a listing broker/agent is 6%. That amount is;

Tran conveyed to Liu all his ownership interest in his real property but when he did so he made no promise that he had conveyed anything. Liu received a

One advantage to a fixed-rate mortgage is that the lender typically will not charge the borrower any loan origination fee.

All the money necessary to complete the purchase of a home, above and beyond the net amount of the new mortgage loan, and whether used for payment of "garbage fees," reimbursement to seller of prepaid property taxes, or for part of the purchase price, is called the ________________ .

Monthly payments on home mortgages often include, PITI, Principal, Interest, Property Taxes, and ________________ .

The forced sale of real property following a court proceeding is called a:

Sometimes a homeowner who becomes wholly unable to make mortgage payments can protect his or her credit rating by giving the lender a(n) __________________.

A document used to transfer ownership interest in real property is called a deed and it has different legal significance than a contract.

The grantor promises that he or she will transfer all they own, but do not guarantee they own anything. They have transferred property with a

A homeowner's monthly mortgage payment often includes or combines sums of money for payment of property taxes and casualty insurance with the sum for principal and interest on the mortgage.

A(n) _ _ _ _ _ _ _ _ _ _ _ gives a person the right to make limited use of another person's real property, such as driving a car over it.

A judgment against a debtor for the unpaid balance still due after judicial foreclosure of a real estate mortgage is called a right of redemption.

A due on sale clause

A foreclosure is a process by which secured real property is confiscated at the direction of the unpaid creditor and sold to the highest bidder

_______________ is money or other property made available as security by a debtor to a creditor, through physical possession or legal right, to guarantee repayment of a loan.

In general, home sales have changed from a "Let the buyer beware" to a "Let the seller beware" market.

State laws provide that all documents that affect the ownership of, or possession of, real estate may be _________________ in public official records.

A real estate agent employed by the buyer to find attractive homes to purchase is called the listing agent.

Introduction to Law

The Constitution

The Court System

Attorney-Client Relationship and Dispute Resolution

Administrative Law

Crimes: Public Wrongs

Torts: Private Wrongs

Contracts: Enforceable Agreements

Intellectual and Personal Property Including Motor Vehicles

Renters and Landlords

Employee and Employer Rights and Duties

Consumer Rights, Privacy, and Protection

Family Law

Wills, Trusts, and Probate

Filters

Exam 9: Real Property and Home Ownership

An obstacle to clear title in real estate is called a ____________ .​

The standard real estate commission paid a listing broker/agent is 6%. That amount is;​

Tran conveyed to Liu all his ownership interest in his real property but when he did so he made no promise that he had conveyed anything. Liu received a​

One advantage to a fixed-rate mortgage is that the lender typically will not charge the borrower any loan origination fee. ​

All the money necessary to complete the purchase of a home, above and beyond the net amount of the new mortgage loan, and whether used for payment of "garbage fees," reimbursement to seller of prepaid property taxes, or for part of the purchase price, is called the ________________ .​

Monthly payments on home mortgages often include, PITI, Principal, Interest, Property Taxes, and ________________ .​

The forced sale of real property following a court proceeding is called a:

Sometimes a homeowner who becomes wholly unable to make mortgage payments can protect his or her credit rating by giving the lender a(n) __________________​.

A document used to transfer ownership interest in real property is called a deed and it has different legal significance than a contract.​

The grantor promises that he or she will transfer all they own, but do not guarantee they own anything. They have transferred property with a ​

A homeowner's monthly mortgage payment often includes or combines sums of money for payment of property taxes and casualty insurance with the sum for principal and interest on the mortgage. ​

A(n) _ _ _ _ _ _ _ _ _ _ _ gives a person the right to make limited use of another person's real property, such as driving a car over it.​

A judgment against a debtor for the unpaid balance still due after judicial foreclosure of a real estate mortgage is called a right of redemption.​

A due on sale clause ​

A foreclosure is a process by which secured real property is confiscated at the direction of the unpaid creditor and sold to the highest bidder​

_______________ is money or other property made available as security by a debtor to a creditor, through physical possession or legal right, to guarantee repayment of a loan.​

In general, home sales have changed from a "Let the buyer beware" to a "Let the seller beware" market.

State laws provide that all documents that affect the ownership of, or possession of, real estate may be _________________ in public official records.​

A real estate agent employed by the buyer to find attractive homes to purchase is called the listing agent.​

Introduction to Law

The Constitution

The Court System

Attorney-Client Relationship and Dispute Resolution

Administrative Law

Crimes: Public Wrongs

Torts: Private Wrongs

Contracts: Enforceable Agreements

Intellectual and Personal Property Including Motor Vehicles

Renters and Landlords

Employee and Employer Rights and Duties

Consumer Rights, Privacy, and Protection

Family Law

Wills, Trusts, and Probate

Filters

An obstacle to clear title in real estate is called a ____________ .

The standard real estate commission paid a listing broker/agent is 6%. That amount is;

Tran conveyed to Liu all his ownership interest in his real property but when he did so he made no promise that he had conveyed anything. Liu received a

One advantage to a fixed-rate mortgage is that the lender typically will not charge the borrower any loan origination fee.

All the money necessary to complete the purchase of a home, above and beyond the net amount of the new mortgage loan, and whether used for payment of "garbage fees," reimbursement to seller of prepaid property taxes, or for part of the purchase price, is called the ________________ .

Monthly payments on home mortgages often include, PITI, Principal, Interest, Property Taxes, and ________________ .

Sometimes a homeowner who becomes wholly unable to make mortgage payments can protect his or her credit rating by giving the lender a(n) __________________.

A document used to transfer ownership interest in real property is called a deed and it has different legal significance than a contract.

The grantor promises that he or she will transfer all they own, but do not guarantee they own anything. They have transferred property with a

A homeowner's monthly mortgage payment often includes or combines sums of money for payment of property taxes and casualty insurance with the sum for principal and interest on the mortgage.

A(n) _ _ _ _ _ _ _ _ _ _ _ gives a person the right to make limited use of another person's real property, such as driving a car over it.

A judgment against a debtor for the unpaid balance still due after judicial foreclosure of a real estate mortgage is called a right of redemption.

A due on sale clause

A foreclosure is a process by which secured real property is confiscated at the direction of the unpaid creditor and sold to the highest bidder

_______________ is money or other property made available as security by a debtor to a creditor, through physical possession or legal right, to guarantee repayment of a loan.

State laws provide that all documents that affect the ownership of, or possession of, real estate may be _________________ in public official records.

A real estate agent employed by the buyer to find attractive homes to purchase is called the listing agent.