A Break in the Chain of Title Is Not Considered

question 16

True/False

A break in the chain of title is not considered a title defect.

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Definitions:

Trade-In Allowance

The discount or credit granted for the return of an old item when purchasing a new one.

Depreciation

The allocation of the cost of a tangible asset over its useful life, representing the decrease in value due to wear and tear, age, or obsolescence.

Trade-In Allowance

Trade-In Allowance is the credit a dealer offers to the consumer towards the purchase of a new item by trading in an older model or item.

Depreciation

A technique for distributing the expense of a physical asset throughout its lifespan.