Colibri Real Estate Law Verified Questions And Correct Answers
Abandonment Non-payment of taxes Absolute Auction An auction where the property is sold to the highest qualified bidder; there is no minimum bid or reserve or right of confirmation. Also called Without Reserve. Abstract of Title A brief, chronological summary of the recorded documents affecting title to a particular parcel of real property. Acceleration Clause A contract clause giving the lender the right to declare the entire loan amount due immediately because of borrower's default, or other reasons in the contract. Acceptance When a party agrees to the terms of an offer to enter into a contract, thereby creating a binding contract. Accession The acquisition of title to land by its addition to real estate already owned, through human actions or natural processes
Document information
- Uploaded on
- March 12, 2024
- Number of pages
- 30
- Written in
- 2023/2024
- Type
- Exam (elaborations)
- Contains
- Questions & answers
