Forms of Ownership Exam 4 Flashcards Preview

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Flashcards in Forms of Ownership Exam 4 Deck (8)
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1

Holographic Will can convey property, must follow state law, be in the handwriting of testator but DOES NOT

Need to be signed by a witness

2

A person who receives a gift of real property is called a

Devisee

3

To devise property is to

convey property through will

4

An abstract of title contains

net effect of EACH recorded document in summary form

5

Title insurance protects against

New liens recorded AFTER closing

6

Which closing costs have ZERO tolerance for increase:

Appraisal fee where lender chose company

7

What is the allowable change between Good Faith Estimate and Actual Closing Costs

10%

8

How soon must lender repay difference in estimates

60 days