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Instruments of Real Estate Finance

Horizontales
__ theory means the lender has equitable rights and the borrower has legal rights.
A __ of trust is a lending instrument in which foreclosure is quicker and easier for a lender.
The trustor in a deed of trust is the __ (new owner).
When a buyer purchases a property and the seller retains title to the property, they have executed a __ for deed.
A __ is a promise to pay a debt.
The __ clause states that the mortgagor will regain full, free and clear title upon the repayment of the debt.
__ liens would include mechanics' liens
Because the contract for deed is a financing and sales agreement, it requires the __ of the buyer and the seller.
The __ foreclosure power is found in a contract for deed.
When a note is used as a debt instrument without any related collateral, it is described as a/an __ note.
The most common type of physical encumbrance on a property is for a/an __ easement
Verticales
Under a contract for deed, the seller remains the legal fee owner of the property and is referred to as the __.
A __ lien is an example of a voluntary lien.
In order to protect the vendee's rights to the property, a contract for deed must be __.
A /an __ lien is an example of an involuntary lien.
A mortgage on a property creates a __ lien.
A property __ lien takes priority over all other liens, including a first mortgage lien.
A __ lien differs from a general lien in that it applies only to a single property.
A right or interest in a property held by one who is not the legal owner of the property is known as a/an __.
Because the second loan is in a subordinate position, the junior lienholder is in a __ risk position.
An easement for a local power company is an example of a __ encumbrance.