Deed

Mortgage

Lease

Title Insurance Policy

To transfer ownership of real property

To secure a loan for the purchase of real property

To establish a lease agreement

To provide title insurance

A lease transfers ownership of real property, while a deed creates a lien.

A lease is a short-term agreement, while a deed is a long-term agreement.

A lease involves the payment of rent, while a deed does not.

All of the above.

To protect the lender against loss in case of a title defect

To protect the buyer against loss in case of a title defect

To protect both the lender and the buyer against loss in case of a title defect

None of the above

An earnest money deposit is refundable, while a down payment is not.

An earnest money deposit is typically a smaller amount than a down payment.

An earnest money deposit is paid at the time of the offer, while a down payment is paid at the time of closing.

All of the above.

To determine the boundaries of a property

To identify any easements or encroachments on a property

To determine the location of any underground utilities on a property

All of the above

A lien is a claim against a property, while an easement is a right to use a property.

A lien is typically created by a mortgage, while an easement is typically created by a deed.

A lien can be enforced by foreclosure, while an easement cannot.

All of the above.

To regulate the use of land in a community

To protect the health and safety of the community

To promote the orderly development of the community

All of the above

A restrictive covenant is created by a deed, while a deed restriction is created by a zoning ordinance.

A restrictive covenant is typically more specific than a deed restriction.

A restrictive covenant can be enforced by the homeowner's association, while a deed restriction can only be enforced by the government.

None of the above

To determine the ownership of a property

To remove a cloud on the title to a property

To partition a property among multiple owners

All of the above

In a foreclosure, the lender sells the property to satisfy the debt, while in a short sale, the borrower sells the property for less than the amount owed on the mortgage.

In a foreclosure, the borrower is typically evicted from the property, while in a short sale, the borrower may be allowed to remain in the property.

In a foreclosure, the lender typically takes a loss, while in a short sale, the borrower typically takes a loss.

All of the above.

To set forth the terms of the sale of a property

To protect the rights of the buyer and seller

To ensure that the sale is completed in a timely manner

All of the above

A buyer's agent represents the buyer in a real estate transaction, while a seller's agent represents the seller.

A buyer's agent typically works for a real estate brokerage firm, while a seller's agent typically works for the seller.

A buyer's agent is paid by the buyer, while a seller's agent is paid by the seller.

All of the above.

To identify any defects in a property

To protect the buyer from buying a property with hidden problems

To ensure that the property is safe and habitable

All of the above