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Author Question: Discuss the most prevalent reasons individuals file for bankruptcy. What will be an ideal ... (Read 80 times)

laurencescou

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on: Aug 3, 2018
Discuss the most prevalent reasons individuals file for bankruptcy.
 
  What will be an ideal response?

Question 2

What is a title report and what role does it play in the real estate transaction?
 
  What will be an ideal response?


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chreslie

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Reply #1 on: Aug 3, 2018
Answer to Question 1

Student should discuss loss of employment, divorce, death of a spouse, natural disasters, living beyond one's means, poor money management, and economic conditions.

Answer to Question 2

A title report is a summary report that provides a legal description of the real estate, describes how the sellers acquired ownership, identifies anything impacting that ownership, and lists items that might affect the ability to give good title to the buyer. Its role is to list any clouds on the title.
In order for good title to be conveyed all the clouds on title must be removed. So in essence the title report lists items the seller must resolve to convey good title.


laurencescou

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Reply #2 on: Aug 3, 2018
Thanks


chreslie

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Reply #3 on: Aug 3, 2018
Welcome :)


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