Unknown 7

What are characteristics in the context of real estate?

• Features that distinguish a residential property

• The interest in common with other owners

• The final estimate of value

• Possessory rights in real property

What is a common interest subdivision?

• A type of loan agreement

• Subdivided lands with a separate interest in real property

• A method of compacting soil

• A type of promissory note

What is the purpose of compaction in construction?

• To increase the value of the property

• To ensure the soil can support the weight of buildings

• To convert property use

• To delegate powers to an agent

What does a confession of judgment involve?

• A promise to perform an act

• An entry of judgment upon the debtor’s voluntary admission

• A change from one legal form to another

• The sale of a promissory note

What is a unilateral contract?

• A contract where both parties promise to perform

• A contract where one party promises to perform if the other party performs a certain act

• A contract involving the conversion of property

• A contract that involves the delegation of powers

What does conversion mean in legal terms?

• The final estimate of value

• The unlawful appropriation of another’s property

• The conferring of powers by an agent

• The sale of a promissory note

What are corporeal rights?

• Rights related to the conversion of property

• Possessory rights in real property

• Rights related to the delegation of powers

• Rights related to the confession of judgment

What is a discount in the context of promissory notes?

• The final estimate of value

• The sale of a promissory note at a price less than the outstanding principal balance

• The unlawful appropriation of another’s property

• The conferring of powers by an agent

What does the term "Draw" usually apply to in the context of loans?

• Construction loans

• Personal loans

• Student loans

• Auto loans

What is the "Effective Date of Value" in real estate?

• The day a property is listed

• The specific day the conclusion of value applies

• The day a property is sold

• The day a loan is approved