Sec 7 Unit 4 Exam

A  Equitable and legal title and right of possession

B  Equitable and justifiable title

C  Equitable and legal title

D  Equitable title and possession of the property

A  Victoria could sue Bob for possession of the property and win ownership without paying the full price they agreed upon.

B  Victoria could cause an involuntary lien to be placed on the property.

C  Victoria could use the property as collateral for another loan.

D  Victoria could sell Bob’s interest in the property.

A  The interest rate increases by 3% the first year, 2% the second year, and 1% the third year until it reaches the original rate stated in the note.

B  The interest rate starts low but increases by 1% each year for three years until it reaches the rate stated in the note.

C  The rate is reduced by 1% for the first three years, by 2% for the next two years, and by 1% for one more year, and is then set at the rate stated in the note for the rest of the loan term.

D  The interest rate starts at 3% for the first year, changes to 2% the second year, changes to 1% the third year, and is then set at the rate stated in the note for the rest of the loan term.

A  A contract for deed or market

B  A contract for deed or mortgage

C  Mortgage or deed of trust

D  A contract for deed or deed of trust