In Each Stage of the Development Process, the Developer Faces

question 19

Multiple Choice

In each stage of the development process, the developer faces risks that can have a profound impact on the success of the particular project. Which of the following risks is of primary concern after the construction phase has been completed?

• A) Environmental risk
• B) Title risk
• C) Market risk
• D) Permitting risk

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Definitions:

Mortgage

A mortgage is a legal agreement by which a bank or creditor lends money at interest in exchange for taking the title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt.

Possessory Interests

Refers to the legal right to control property, including the right to exclude others from it.

Registry System

An organized system or database for the official recording, tracking, and management of information or documents, such as land titles, births, marriages, or automobiles.

Land Titles Systems

A system of registration for land ownership and interests, ensuring clarity and legality in real estate transactions.