What is a mortgage? What is a deed of trust? How are these documents similar and how are they different?
What will be an ideal response?
A mortgage or a deed of trust is the document which pledges the realty to secure the promise to repay the amount borrowed under the terms of the promissory note. In lien theory states, the mortgage pledges the real estate as collateral for the amount borrowed. In title theory states, the deed of trust transfers title to the real estate to the lender or a third party who holds title in trust for the benefit of the borrower until the loan is paid in full.
You might also like to view...
How may the legal team use presentation graphics programs? Give examples of the ways graphics can be used by both litigation and non-litigation legal teams
What will be an ideal response?
Which of the following would turn the acceptance of an offer to purchase a car into a counteroffer?
A) a demand that the offeror place a new air freshener in the car B) a demand that the offeror make sure the tires are properly inflated C) a demand that the offeror replace all four tires on the car D) a demand that the offeror check the brake fluid before delivery
Which of the following is not public information?
a. a birth certificate b. social security numbers of dead folks c. driver's license information d. a divorce decree
Expository writing stresses the factual, explanatory, and the objectively analytical
Indicate whether the statement is true or false