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Flashcards in Misc Deck (9)
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0

What is the primary purpose of the truth in lending act?

Requires lenders to disclose financing costs to applicants for consumer loans, including consumer loans secured by real estate.

1

An easement appurtenant is one that?

Runs with the land

2

A tenancy in which the tenant is in possession with the permission of the landlord, but there is no definite rental period or duration of possession is called a?

Estate at will

3

A buyer who records a deed is giving?

Constructive notice

4

In a bilateral contract?

Two parties have exchanged promises and both parties are obligated to perform.

5

Once a contract for deed is signed by the parties, the buyer immediately receives?

Equitable title.

6

A federal law requires lenders to give the booklet "shopping for your home loan" to all prospective borrowers within three business days of loan application. What law is this?

Respa

7

Who is responsible for preparing and conducting real estate license examinations?

The real estate commission

8

Are property management trust funds exempt from the pooled interest bearing account requirement?

Property management trust funds