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Parties, Property & Financing

Promulgated Forms Chapter 3
Horizontales
A transaction in which the seller receives part of the consideration as a note secured by a mortgage as part of the consideration
To take on personal liability for a legal obligation made by another person
Buyer has liability that continues until the loan is paid in full and receives this document from the lender
A property description that is of such certainty and accuracy that one can go to it and identify it
Verticales
A system of property ownership based on the theory that each spouse has an equal interest in the property acquired by the efforts of either spouse during marriage
Items of personal property that sellers or buyers might negotiate in the sale of property through the use of this addendum
Financing that involves someone other than the seller of the property
The signatories to a contract