exam 4.docx

exam 4.docx - The date and time a document was recorded...

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The date and time a document was recorded help establish which of the following? D) Priority Many environmental issues fall under the purview of which entity? C) Environmental Protection Agency (EPA) Federally funded projects require C) an environmental impact statement (EIS). On the closing statement of a typical real estate transaction, the buyer's earnest money deposit is D. A credit to the buyer only A lender must give the borrower a Loan Estimate D) within 3 days after loan application. he annual real estate taxes on a property amount to $1,800. The seller has paid the taxes in advance for the calendar year. If the closing is set for June 15, which statement is TRUE ? C) Credit the seller $975; debit the buyer $975. Encapsulation is often a better solution than removal of what hazardous waste? B) Asbestos A title search shows a discrepancy in the legal description and what land was conveyed. What would be used to clear up the discrepancy? Suit to quiet title
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On the settlement statement, the principal amount of a purchaser's new mortgage loan is A) a credit to the buyer. All encumbrances and liens shown on the report of title, other than those waived or agreed to by the purchaser and listed in the contract, must be removed so that the title can be delivered free and clear. The removal of such encumbrances is typically the duty of The seller A standard title search would uncover all of the following EXCEPT Parties Possesion Radon poses the greatest potential health risk to people when it is Trapped and concentrated in inadequately ventilated areas What is the primary difference between a first mortgage and a second mortgage
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