Deck 5

Question 1

When a person obtains a loan that is an interest-only loan, this can also be referred to as a:

Answer 1

Term loan

Question 2

What protects a lender ensuring that the mortgage is an enforceable lien?

Answer 2

Title insurance

Question 3

The zoning of isolated properties for uses different from the uses specified by existing zoning laws refers to:

Answer 3

Spot zoning

Question 4

Alienable title means that the title:

Answer 4

can be conveyed.

Question 5

For a real estate broker to be entitled to a commission if the property sells after the expiration of the listing, the broker should place into the listing agreement a:

Answer 5

A “carryover” clause (often referred to as a safety clause) may be contained in a listing. It provides that a broker is still entitled to a commission for a set period of time after the listing has expired if the property is sold to a prospect of the broker introduced to the property during the period of the listing.

Question 6

Prepaid rents in escrow are typically credited to the

Answer 6

Buyer

Question 7

The words of conveyance in a deed appear in the:

Answer 7

Granting clause

Question 8

The principals are each personally liable to creditors in:

Answer 8

partnership

Question 9

When property is appraised as part of the loan application process, a copy of the appraisal belongs to…

Answer 9

The buyer who paid for it

Question 10

If a complex of dwelling units are at least 80% occupied by at least one person who is aged 55 years or older, the Federal Fair Housing Act does not prohibit discrimination against

Answer 10

Children