Answers should be at least one paragraphfor each question in length, but some answers will require more. You should write whatever length is required to thoroughly answer the questions.
1.What clauses must a deed minimally contain?
2.Explain the difference between a general warranty deed and a limited warranty deed.
3.There are several special deed types. Name three and explain their purpose.
4.Define the term "hereditament.
5.What deed clause would be included to address natural resources that exist under the surface of the earth.
6.What is the purpose of an acceleration clause?
7.Explain the difference between a mortgage and a note.
8.In addition to credit rating, what other factors are considered by a lender when deciding to approve or disapprove a loan?
9.What various types of governmental mortgage programs exist?
10.What is the purpose of a mortgage commitment?
11.What is the order in which judicial foreclosure proceeds are distributed?
12.What are the two forms of redemption?
13.When is an action for deficiency judgment initiated?
14.What are the differences between a voluntary and involuntary petition for bankruptcy?Outline the process, and list the forms used for filing bankruptcy.