Banks Use Third Party Verification of Application Information to Help

question 11

True/False

Banks use third party verification of application information to help decrease the problems of adverse selection.

---

Definitions:

Life Estate

A legal interest in real property that lasts for the lifetime of a specific individual, after which the property reverts to another party.

Fixture

An item of property that is attached to a structure or land in such a way that it is considered a permanent part of the site.

Registry System

A system of recording information and transactions, often related to property ownership, to provide legal evidence and ensure public access.

Land Titles System

A legal system for registering and validating land ownership, including the rights and responsibilities of titleholders.