C. The 30-year term is irrelevant. $250,000 × 0.07 = $17,500 (First Year’s Interest) $17,500 ÷ 12 months = $1,458 (rounded)
B. The credit protection offered by the right to rescind does not extend to new purchases of property.
A. The Real Estate Settlement and Procedures Act requires the type of information described.
B. The soil deposited by the natural action of water is called alluvium or alluvion. These alluvial deposits are the by-products of the natural action of accretion. The loss of these alluvial deposits is known as erosion or in the case of a violent tearing away of the soil, avulsion. Reliction refers to the gradual lowering of the water level from the usual watermark. This would result in additional land being uncovered and are often referred to alluvion. Accretion is the legal concept whereby title to these alluvial deposits is transferred from one property owner to another.
A. This is definitional.
A. The person receiving the property need not sign the deed.
B. The quitclaim deed conveys whatever interest the owner has in the property without warranty.
C. Instructions given by the two parties jointly are called bilateral.
C. Referral or other fees may not be paid to anyone except the escrow agent’s employees.
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