Unknown 10

What is the definition of "Initial Note Rate" in the context of an adjustable rate mortgage?

• The rate at which the loan is fully indexed

• The rate upon origination, which may differ from the fully indexed note rate

• The rate after the first adjustment period

• The rate that remains constant throughout the loan term

What does "Partition Action" refer to in real estate terms?

• A process to merge ownership interests

• A court proceeding to sever joint ownership

• A method to increase property value

• A legal action to dispute property taxes

What is a "Pledgor" in financial terms?

• A person who receives a pledge

• A person who offers a pledge or gives security

• A person who manages a trust

• A person who evaluates property value

What is meant by "Proximate Cause" in legal terms?

• The initial cause of an event

• A cause that is unrelated to the event

• A cause that is the most distant from the event

• The cause that directly produces the event in a natural and continuous sequence

What is a purchase of land, leaseback, and leasehold mortgage?

• An arrangement where land is purchased by the lender and leased back to the developer.

• A method of selling land directly to a buyer without any lease agreements.

• A process of buying land and immediately selling it for profit.

• A type of mortgage that does not involve any leasing.

What are range lines?

• Lines that run east and west forming the north and south boundaries of townships.

• Lines that run north and south forming the east and west boundaries of townships.

• Lines that run diagonally across townships.

• Lines that form the boundaries of individual properties.

What is a real estate board?

• A group of real estate investors.

• An organization of real estate brokers and salespersons.

• A committee that sets property prices.

• A board that manages real estate taxes.

What does renunciation mean in real estate terms?

• Accepting a property offer.

• Giving up or rejecting something granted.

• Signing a lease agreement.

• Purchasing a new property.

What is a sale-leaseback-buy-back?

• A transaction where the leaseholder can buy back the property after a specified time.

• A sale where the buyer immediately sells the property back to the seller.

• A lease agreement that cannot be terminated.

• A method of buying property without any lease agreements.

What does the term "SUBORDINATE" mean?

• To make subject to, or junior or inferior to.

• To have no force or effect.

• An increase in value of real estate.

• A purchaser or buyer.