Involuntary Property Transfer Due to a Trustee Sale

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which legal document is involved with a trustee's sale?

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1. Who sells the property in a nonjudicial foreclosure sale relying upon a power of sale clause in a deed of trust?

2. Before a Notice of Sale is recorded, which of the following must be recorded?

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About This Quiz & Worksheet

Since a home is a substantial purchase, lenders require collateral to ensure that they are protected if the loan recipient defaults. The quiz asks you about documents and processes related to trustee sales and property transfers.

Quiz & Worksheet Goals

You will be quizzed on:

  • A trustee sale legal document
  • The property seller in a nonjudicial foreclosure sale
  • How trustees sell real estate to pay a defaulted loan balance
  • What must be recorded before a Notice of Sale

Skills Practiced

  • Distinguishing differences - compare and contrast topics from the lesson, such as a trustee sale and a foreclosure pursuant to a mortgage
  • Information recall - access the knowledge you've gained about recording a Notice of Sale
  • Knowledge application - utilize your understanding to point out the document connected to a trustee's sale

Additional Learning

Review the lesson called Involuntary Property Transfer Due to a Trustee Sale to increase your knowledge of this subject. Lesson objectives include:

  • Define trustee sale
  • Explain what is meant by a judicial foreclosure
  • Describe the purpose of a power of sale provision
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