Conveyance

Deed

Lease

Mortgage

A deed transfers ownership, while a mortgage creates a lien.

A deed is a written document, while a mortgage is an oral agreement.

A deed is recorded with the county clerk, while a mortgage is recorded with the state.

A deed is valid for a lifetime, while a mortgage is valid for a specific period of time.

Grantor, grantee, consideration, and description of the property.

Grantor, grantee, and description of the property.

Grantor, consideration, and description of the property.

Grantee, consideration, and description of the property.

To protect the lender against loss if the title to the property is defective.

To protect the buyer against loss if the title to the property is defective.

To protect both the lender and the buyer against loss if the title to the property is defective.

To protect the seller against loss if the title to the property is defective.

A lease gives the lessee exclusive possession of the property, while a license does not.

A lease is for a specific period of time, while a license is for an indefinite period of time.

A lease is recorded with the county clerk, while a license is not.

A lease is a written document, while a license is an oral agreement.

The landlord has the right to collect rent and the tenant has the responsibility to pay rent.

The landlord has the right to enter the property to make repairs and the tenant has the responsibility to keep the property clean and in good repair.

The landlord has the right to evict the tenant if the tenant breaches the lease and the tenant has the responsibility to give the landlord notice before moving out.

All of the above.

A zoning ordinance regulates the use of land, while a building code regulates the construction of buildings.

A zoning ordinance is enacted by a local government, while a building code is enacted by a state government.

A zoning ordinance is more restrictive than a building code.

All of the above.

To maintain common areas and enforce deed restrictions.

To provide social and recreational activities for homeowners.

To represent the interests of homeowners in dealing with local government.

All of the above.

In a foreclosure, the lender sells the property to satisfy the debt, while in a short sale, the lender agrees to accept less than the amount owed on the loan.

In a foreclosure, the borrower is evicted from the property, while in a short sale, the borrower remains in the property.

In a foreclosure, the borrower's credit is damaged, while in a short sale, the borrower's credit is not damaged.

All of the above.

An easement is a right to use the property of another, while a right-of-way is a right to cross the property of another.

An easement is created by a written document, while a right-of-way is created by a deed.

An easement is for a specific purpose, while a right-of-way is for any purpose.

All of the above.

A lien is a claim against property to secure a debt, while a mortgage is a type of lien.

A lien is created by a written document, while a mortgage is created by a deed.

A lien can be enforced by foreclosure, while a mortgage can be enforced by a lawsuit.

All of the above.

A warranty deed conveys title to the property with a warranty of title, while a quitclaim deed conveys title to the property without a warranty of title.

A warranty deed is more expensive than a quitclaim deed.

A warranty deed is more common than a quitclaim deed.

All of the above.

A real estate agent is licensed to sell real estate, while a real estate broker is licensed to both sell and broker real estate.

A real estate agent works for a real estate broker, while a real estate broker works for himself or herself.

A real estate agent can only represent buyers, while a real estate broker can represent both buyers and sellers.

All of the above.

To transfer ownership of the property from the seller to the buyer.

To pay off any liens against the property.

To distribute the proceeds of the sale to the seller and the buyer.

All of the above.

To represent the interests of their client.

To disclose all material facts about the property.

To negotiate the best possible price for their client.

All of the above.