Studying for your real estate license exam? Check out our resources on all the definitions you need to know while studying for your real estate exam.
If a mortgage exists, odds are it includes an acceleration clause. The clause requires a borrower to repay all of an outstanding loan upon a breach of the contract. A clause identifies a particular section of a real estate contract …
In certain states, a defeasance clause is a required contract provision that ensures that the title for the property is transferred to the buyer once the mortgage is fully paid off. A clause identifies a particular section of a real …
Lets talk about the alienation clause, also known as the due-on-sale clause. Don’t worry it has nothing to do with extraterrestrial life. The act of transferring title, ownership, an estate, or an interest in real estate from one party to …
The habendum clause typically is a section of a contract that deals with rights and to whom or what is granted. A clause identifies a particular section of a real estate contract (for those of you who don’t know). There …
As we all know, real estate laws vary from state to state. In title theory states, banks or mortgage lenders hold the title of a property until it is paid in full. In lien theory states, however, banks or mortgage …
Let’s talk about the Dominant and Servient Estate which have to do with easements. Understanding the difference between both estates is vital for the real estate exam. For those of you who don’t know what an easement is – an …
