If an Owner of a Single-Family Residence Defaults on His

question 21

Multiple Choice

If an owner of a single-family residence defaults on his mortgage, it can

• A) not be foreclosed if an ALTA title insurance policy insured it.
• B) be foreclosed on.
• C) not be foreclosed on if the mortgage went into effect before 1978.
• D) only be foreclosed on if an ALTA title insurance policy insured it.

Differentiate between negative phrases and neutral or positive communication strategies.

Understand the importance of closing statements in negative news messages.

Assess the impact of medium choice on the delivery of bad news.

Recognize the goals of negative messages and how to achieve them.

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Definitions:

Accession

The addition of value to personal property by the use of labor or materials.

Title

A formal document or designation indicating ownership of property or the right to claim something.

Personal Property

Assets that are movable and not fixed permanently to one location, such as furniture, vehicles, and stocks, as opposed to real estate or land.

Ownership Rights

Legal rights and claims that one has over property or assets, allowing them to use, manage, and dispose of them as they see fit.