Misc Flashcards
1
Q
License
A
Permission to use the land that is revocable at the will of the owner of the servient estate
2
Q
Mortgage
A
An instrument that secures performance of an obligation on real property. (Note is negotiable, can be transferred)
3
Q
2 types of foreclosure
A
judicial foreclose (can hold mortgagor responsible for deficiency) and non-judicial foreclosure (mortgage will include power of sale)
4
Q
6 Usual Covenants for Title
A
- Seisin
- Right to Convey
- Freedom from Encumbrances
- Right to Quiet Enjoyment
- Further Assurances
- Warranty
