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Question
A builder bought all 20 lots in a subdivision from the developer, who carried most of the purchase price on one loan. To sell the lots, he must include aa. reverse loan clause.
b. sale-lease back clause.
c. package mortgage clause.
d. partial release clause.
Answer
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Related questions
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The term "undivided interest" means
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b. when one co-owner dies, the remaining co-owners acquire his interest.
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When real property is taken by means of eminent domain, the government has to pay the landowner fair market value.
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Q:
Which of the following is a non-freehold estate?
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Q:
a. Amortized loan k. Loan origination feeb. Amortization tables l. Loan-to-value ratioc. Balloon loan m. Maturityd. Budget mortgage n. Partially amortized loane. Conventional loan o. PITI paymentf. Discount point p. PMIg. Equity q. Pointh. FHA r. Principali. Impound account s. Term loanj. Loan balance table t. UFMIP1> balance owing on a loan2> a loan that requires the borrower to pay interest only until maturity, at which time the full amount of the loan must be repaid3> refers to a monthly loan payment that includes principal, interest, property taxes, and property insurance4> an escrow or reserve account into which the lender places the borrower's monthly tax and insurance payments5> one hundredth of the total amount; 1% of a loan6> a loan requiring periodic payments that include both interest and principal7> a payment that is larger than any of the previous payments8> the end of the life of a loan9> a loan with a series of amortized payments followed by a balloon payment at maturity10> shows the principal still owing during the life of a loan11> a table showing the monthly payments required to completely pay off a loan12> a one-time charge by the FHA for insuring a loan13> a private mortgage insurance source to insure lenders against foreclosure loss14> the expenses a lender incurs in processing a mortgage loan15> a mortgage wherein the borrower pays principal, interest, taxes and insurance in the same payment16> the market value of a property less the debt against it17> Federal Housing Administration18> a percentage reflecting what a lender will lend divided by the sale price or market value of the property, whichever is less19> real estate loans that are not insured by FHA or guaranteed by the VA20> a charge by a lender that will allow them to sell the loan in the secondary market at a discount
Q:
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Q:
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Q:
a. adjusted sales price k. front-foot basisb. ad valorem tax l. improvement districtc. amount realized m. installment methodd. appropriation process n. long-term capital gaine. assessed value o. mill ratef. assessment appeal board p. public improvementg. assessment roll q. special assessmentsh. basis r. tax certificatei. conveyance tax s. tax deedj. documentary tax t. tax lien1> a tax expressed in tenths of a cent per dollar of assessed valuation2> according to value3> a document issued at a tax sale that entitles the purchaser to a deed at a later date if the is not redeemed4> the enactment of a taxing body's budget and sources of money into law5> a book that contains the assessed value of each property in the taxing district6> a document conveying to property purchased at a tax sale7> a value placed on a property for the purpose of taxation8> assessments levied to provide publicly built improvements that will primarily benefit property owners within a small geographical area9> a charge or levy based directly on the measured distance that a parcel of land abuts a street10> sales price of a property less fix-up costs and sales commissions, closing and other selling costs11> a preferential income tax treatment on the sale of an appreciated asset before 198712> sale of an appreciated property structured to spread out the payment of income taxes on the gain13> hears complaints from property owners regarding their assessments14> a state or local tax charged on deeds at the time of recording15> the geographical area which will be assessed for a local improvement16> an improvement that benefits the public at large and is therefore financed by general property taxes17> a charge or hold by a government against property to ensure the payment of taxes18> the price paid for property; used in calculating income taxes19> a fee or tax on deeds and other documents payable at the time of recordation20> selling price of a home less selling expenses
Q:
A man bought a home two years ago and sold it a year later. You would expect to find his name and a reference to the home in the mortgagee index.