If a lender accepts a deed in lieu of foreclosure from a trustor, the lender:
A: Must also receive a power of sale from the trustor;
B: Will own the property free and clear of any other loans;
C: Must go to court and get a deficiency judgment;
D: Will assume any junior liens.
Answer: D: Will assume any junior liens.
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____________________ lien (involuntary) for property taxes or special assessments.
Fill in the blank(s) with the appropriate word(s).
A husband is survived by his wife and their two daughters. The couple's community property is worth $50,000, but the husband also has left separate real property worth $150,000. Because the husband died suddenly without leaving a will, the wife most likely will receive through the courts of decent and distribution
A) sole ownership of the community property, and her daughters each receive $75,000 from the husband's separate property. B) sole ownership of all of the property. C) sole ownership of the community property and one-third in her husband's separate property. D) one-half of the entire estate or $25,000 from the community property and $75,000 from the husband's separate property, while her daughters each receive one-half of the balance of the entire estate, or $50,000.