Unit owners have real estate title to their individual units in:

A) Condominiums.
B) Cooperatives.
C) Both condominiums and cooperatives.
D) Neither condominiums nor cooperatives.

A

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A buyer obtains in 90% institutional loan for $180,000 towards the purchase of a $200,000 house. The buyer does not have the necessary $20,000 for the down payment, so the seller takes back $10,000, 10-year mortgage and the buyer contributes the other $10,000 in cash. This is known as a/an:

A. Bye down B. Seller second C. Wrap around mortgage D. Equity Exchange

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The social-class classification system is based on factors such as income, occupation, education, and dwelling type

Indicate whether the statement is true or false

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