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YOU HAVE NOW FORFEITED All Right, Title and Interest of the Property, and Form

YOU HAVE NOW FORFEITED All Right, Title and Interest of the Property, and Form

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all right in this lecture we will discuss financing a real property chapter mine out of your textbook we're gonna start with some definitions first when you purchase real property unless you use all cash there is typically a secured loan involved a secured loan is one where the lender gives the borrower money and the borough work with up the house or the land as collateral this allows the buyer to take possession of the land and then the lender is given a security instrument that is proof of the lenders security interest in the land then if the borrower doesn't pay their loan as agreed the lender can take the house using the security instrument and sell the house to satisfy the unpaid amount that is left on the loan so that is a very high-level overview of how secure transactions work and why we have secured loans so in a secured loan transaction you will have a document called a promissory note and you can think of it as evidencing the buyer's obligation to pay

Related searches to YOU HAVE NOW FORFEITED All Right, Title And Interest Of The Property, And

18 U.S.C. 982
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18 U.S.C. 981
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19 usc 1602-1619
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