Champions School Of Real Estate - Real Estate Finance Exam/97 Qs And As

Package Mortgage {Ans: Mortgage covering both real and personal property}Subrogation {Ans: allows the title company to reduce the amount of compensation that they pay by the amount of any damages paid by the seller to the buyer}Statutory Law {Ans: body of laws and regulations enacted by federal and state legislatures.}Contingency {Ans: provision in a contract that requires a specific act or event happens for the contract to be binding on the party.}Attorney's Opinion of Title {Ans: opinion regarding the state of the title and its ability to be transferred}Easement in Gross {Ans: A personal right to use the land of another.}