Review Exam 2

agreement between two or more persons

a person who has the power and authority to act on behalf of another person

something of value

a response to an offer

written document authorizing another person to act as one's agent

check issued by a bank, the payment of which is guaranteed by the full faith and credit of the bank

data set forth in a real estate contract on which the parties agree to perform all the promises of the contract

money paid by the purchaser

signature of a party to a legal document

portion of the deed that indicates what estate in real property is being transferred by the deed of a mortgage

the transfer of title or some or all of the ownership rights to real property from one person to another

written document that transfers ownership of real property from one person to another

deed containing full warranty of title

person in whom real property has been transferred by deed

transferor of real property by deed

clause found in a deed or mortgage

deed wherein the grantor covenants and warrants only against lawful claims of people

deed that contains no warranties of title

lenders who make mortgage loans directly to borrowers

loan in which the borrower makes periodic payments of interest

loan secured by real property

charge by a lender to a borrower for the use of money

the power given to a lender or to a trustee on behalf of the lender to sell the mortgaged property

sale brought by a holder of a mortgage, deed of trust

legal document that contains a promise by one party to pay money to another party

legal document that conveys title to real property to a trustee who holds the title as security for a debt to a lender

forma that is recorded to give notice that there is a security interest in personal property owned by a debtor

legal document that pledges personal property as security for a debt

legal capacity of the parties, mutual agreement, consideration, lawful purpose and written agreement

specific performance, money damages, recission or liquidated damages

caption, preamble, granting clause, description, habendum clause, warranty clause, testimonium

written instrument, competent grantor, indentity of the grantee, words of conveyance, description of the property, consideration, signature of the grantor, witnesses of deeds, delivery to grantee

general warranty deed, limited (special) warranty deed and quitclaim deed

final payment of all unpaid principal and accrued and unpaid interest on the loan

names of the parties, words of conveyance, valid description of the property conveyed, proper execution and attestation and delivery to the lender

judicial foreclosure and power of sale forclosure