If a Buyer Accepts the Responsibility to Pay an Existing

question 2

Multiple Choice

If a buyer accepts the responsibility to pay an existing loan on the property purchased, it is called:

• A) Release of Liability
• B) Exercise of the Due-on-Sale Clause
• C) A Liability Exchange
• D) A Loan Assumption

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Definitions:

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The act of condensing a larger body of information into a concise overview, highlighting the main points.

Paraphrase Effectively

The skill of rewording or rephrasing text or speech to clarify meaning without changing the original message.

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Mistakes or inaccuracies that occur during the process of examining and interpreting data or information.