Principle Lesson 4

Principle Lesson 4 - Lesson 4 Cumulative Quiz 1 The owner...

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Lesson 4 Cumulative Quiz 1. The owner of Lot B has an access easement across Lot A. Then the owner of Lot B buys Lot A. The easement is terminated through: A. merger 2. When the proceeds of a foreclosure sale aren't enough to pay off all of the liens against the property: B. the lien with highest priority is paid off first, even if there is no money left over for the other liens 3. Mr. and Mrs. Lang own a house together. Mrs. Lang records a Declaration of Homestead on the house, without obtaining Mr. Lang's signature. The house is worth $300,000, and $215,000 remains to be paid on a first deed of trust. If a creditor obtains a judgment against the Langs, the creditor: D. may not foreclose because the net value of the homesteaded property is less than the exemption 4. An easement is a type of: A. nonpossessory interest 5. An easement created through long-term use of land without the permission of the owner is an easement by: A. prescription 6.
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