Recording Documents in the Public Records Informs Anyone Who May

question 27

Multiple Choice

Recording documents in the public records informs anyone who may have a potential interest in a property of both the owner and lender. In so doing, it provides what is commonly referred to as ____________ of an interest in real property.

• A) mutual assent
• B) constructive notice
• C) consideration
• D) simultaneous issue

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Definitions:

Economy

An economy is an area of the production, distribution, and trade, as well as consumption of goods and services by different agents, structured within a community or geographical area.

Demand

The volume of a commodity or service that purchasers are prepared and can afford to buy across various price points within a designated timeframe.

Supply

The total amount of a good or service that is available for purchase at various prices in a given market.

Economy

A system of production, distribution, and consumption of goods and services in a particular geographic region.