When the term "beneficiary statement" is used by those in real estate finance, it identifies a statement made:
A: By the lender, as to the current balance due to pay off a real estate loan;
B: Designating the one who will receive the property in the event of the borrower's death;
C: By the insurer, stating the amount that will be paid to the policyholder if the improvements are destroyed;
D: By the property owner, listing the beneficial features of an assumable loan.
Answer: A: By the lender, as to the current balance due to pay off a real estate loan;
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Under a less-than-freehold estate the holder does not have a title to the property. A less-than-freehold estate is a leasehold estate. A leasehold merely gives possession and use of the property, not title.
a. true b. false