Examlex
Which of the following is true?
Default
The failure to fulfill a legal obligation, especially the failure to pay back a loan according to the agreed-upon terms.
Beneficiary
An individual or entity entitled to receive benefits or assets under a legal instrument, such as a will, trust, or insurance policy.
Land Contract
A conditional agreement for the sale and purchase of real estate in which the legal title to the property is retained by the seller until the purchaser has fulfilled the agreement, usually by completing the payment of the agreed-on purchase price.
Legal Title
The official right to ownership of property or assets, recognized and protected by law.
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