Term
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Definition
| The right of a government body to take ownership of real estate for public use is called: |
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Term
| Under a typical land contract, when does the vendor give the deed to the vendee? |
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Definition
| When the contract is fulfilled and all payments have ben made. |
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Definition
| A law that states that lenders cannot charge more than 24 percent interest on any loan. |
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Term
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Definition
| Paying off the mortgage debt plus any accrued interest and costs after a foreclosure |
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Term
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Definition
| the right to have all future installments become due upon default |
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Term
| due-on-sale clause, acceleration clause, alienation clause |
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Definition
| enables the lender to demand that the entire remaining debt be paid immediately |
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Term
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Definition
| allows a mortgagee to proceed to a foreclosure sale without going to court first |
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Term
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Definition
| appraisal method using a rate of investment return |
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Term
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Definition
| has all legal elements and is fully enforceable |
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Term
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Definition
| lacks one or all elements and has no legal force or effect |
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Term
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Definition
| has all legal elements and may be rescinded or disaffirmed |
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Term
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Definition
| has all legal elements and is enforceable only between the parties |
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