At a trustee’s foreclosure sale, the buyer receives a deed.
Correct Answer
C) trustee’s
In California, non-judicial foreclosure through trustee sale is most common.
Why This Is the Correct Answer
Related Concepts
Foreclosure is the legal process by which a lender takes possession of a property when a borrower fails to make mortgage payments. It allows the lender to sell the property to recover the outstanding debt.
A trustee sale is a type of foreclosure where a trustee, appointed under a deed of trust, sells the property at auction to satisfy the debt.
In the context of foreclosure, a deed transfers ownership of the foreclosed property to the new owner, typically the buyer at a foreclosure sale.
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Assume the contract for the sale of real prop- erty includes the sale of certain removable items, such as paintings and furniture. Upon delivery of the deed, the seller also should deliver
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Barnard made an offer to buy a vacant residence. The offer was accepted by the seller. Prior to the close of escrow, Barnard requested permission from the broker to enter and make minor repairs to the house. Which of the following is true?