The Key Difference Between a Contract for Deed and a Mortgage

question 4

Multiple Choice

The key difference between a contract for deed and a mortgage instrument is

• A) the manner in which payments are made
• B) in a contract for deed, title does not pass until part or all of the payments are made
• C) state laws differ on contract meaning
• D) mortgage instruments are not permitted in all states

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Definitions:

Highly Toxic

Describes substances that are dangerous and can cause significant harm or death even in small amounts.

Ammonia

A colorless gas with a characteristic pungent odor, NH3, which is a compound of nitrogen and hydrogen and is used in the manufacture of fertilizers, explosives, and cleaning products.

Nitrogenous Waste

Nitrogenous Waste refers to waste substances containing nitrogen, such as ammonia, urea, and uric acid, produced by the metabolism of proteins and nucleic acids in living organisms.

Uric Acid

A waste product formed from the breakdown of purines, substances found in many foods, which is excreted in the urine.