Choose the one most appropriate answer for each.
-the lender's right to take possession and collect rents in the event of loan default
A)accepted form
B)assignment of rents
C)automatic form
D)bare title
E)beneficiary
F)deed of trust
G)default
H)foreclosure
I)junior claims
J)naked title
K)no statutory redemption
L)power of sale
M)public trustee
N)reconveyance deed
O)release deed
P)request for reconveyance
Q)trust
R)trustee
S)trustee's deed
T)trustor

Question

Choose the one most appropriate answer for each.
-the lender's right to take possession and collect rents in the event of loan default
A)accepted form
B)assignment of rents
C)automatic form
D)bare title
E)beneficiary
F)deed of trust
G)default
H)foreclosure
I)junior claims
J)naked title
K)no statutory redemption
L)power of sale
M)public trustee
N)reconveyance deed
O)release deed
P)request for reconveyance
Q)trust
R)trustee
S)trustee's deed
T)trustor

Quizplus · Accepted Answer

Assignment of rents gives the lender the right to take possession and collect rents in the event of loan default.

Answer: F
 Deed of trust is a legal document that transfers the title of a property to a trustee as security for a loan. In case of default, the trustee can initiate foreclosure proceedings.

Answer: G
 Default occurs when a borrower fails to make timely payments on a loan.

Answer: H
 Foreclosure is the legal process of selling a property to recover the amount of a defaulted loan.

Answer: R
 Trustee is the person or entity appointed to hold the title of a property in trust during the term of a loan.

Answer: S
 Trustee's deed is a legal document that conveys the trustee's interest in a property to a buyer.

Answer: T
 Trustor is the borrower who transfers the title of a property to a trustee as security for a loan.

Choose the One Most Appropriate Answer for Each