It Is Possible to Have a Secured Real Estate Loan

question 18

Multiple Choice

It is possible to have a secured real estate loan without a mortgage through the use of a
Contract for deed.In contrast to the standard real estate sale,which of the following events occurs after the closing when dealing with a contract for deed?

• A)Offer
• B)Acceptance
• C)Possession of the property passes to the buyer
• D)Title to the property passes to the buyer

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Definitions:

Financial Position

A snapshot of the resources a company controls and its obligations at any given time, indicating its economic standing.

Stock Dividend Distributable

A declaration by a company’s board of directors to issue a dividend in the form of additional shares rather than cash.

Shareholders' Equity

The residual interest in the assets of a corporation after deducting its liabilities; represents ownership interest.

Canada Business Corporations Act

The Canada Business Corporations Act is federal legislation that governs the incorporation and operation of corporations in Canada.