Foreclosure
Landlord/Tenant
Miscellaneous
Miscellaneous
100
This is the process by which the owner of a home or commercial property loses title to their property because they haven't paid a debt secured by the property.
What is foreclosure?
100
True or false: In Oregon, the same laws cover both residential and commercial tenants.
What is false?
100
You are drafting an easement that will allow Clifford to install sewage pipe across Myrtle's property so that Clifford can connect to the city sewer. In the spot that describes the dominant tenement, you put in the legal description of this person's property.
Who is Clifford?
100
This type of ownership gives you the right to visit a piece of real property for two weeks every year.
What is a time-share?
200
Molly gave a first mortgage on her property to Keybank and a second mortgage to Chase. She's been making the payments on the first mortgage, but not the payments on the second mortgage. When Chase forecloses, Molly will lose this portion of her property.
What is all?
200
In addition to looking at the state statutes and caselaw for answer to landlord/tenant questions, you should look at these laws.
What are municipal laws?
200
Nike, Inc., whose current CEO is Mark Parker, is buying two more acres of land in Beaverton from Old Lady Lucille. Your office is preparing the deed. You put this name as the grantee.
What is Nike, Inc.? (WRONG if you mention Mark Parker.)
200
You purchase part of a cooperative (not a condominium). Your ownership is evidenced by this type of document.
What is a stock certificate?
300
This type of security instrument allows the lender to foreclose on property without court supervision (nonjudicially).
What is a deed of trust (also accept security deed)?
300
In Oregon, a landlord/tenant agreement needs to be in writing if it is for this period of time or longer.
What is a year?
300
You own one of 20 units in a condominium. Assuming this is a typical condo arrangement, you also own fee simple title to this amount of the land the condominium is on.
What is 1/20?
300
This type of alternative dispute resolution involves meeting with a third party who will help the parties voluntarily come to an agreement.
What is mediation?
400
Conan signed a promissory note for $100,000, and gave a mortgage to Keybank to secure his payment of the note. Conan stopped paying on the note, so Keybank foreclosed. At the sheriff's sale, the property sold for $80,000. True or False: Conan has to pay the $20,000 difference.
What is true?
400
Your renting a place that has toxic mold in the kitchen, sewage coming out of the shower stall, and rats living in the bedroom. At a hearing in front of a judge, you describe the property as not "__________."
What is habitable?
400
The purpose of a lis pendens (aka notice of pendency of an action) is to do this.
What is give notice that there is a lawsuit which may result in ownership of the property changing hands (thus warning prospective buyers they may be paying off the wrong person).
400
You are drafting a deed for the Couth Country Coliseum closing which will take place next Monday. The sellers owe $360,000 to Dominos Bank for a mortgage on the coliseum. You decide whether or not to list the $360,000 as an encumbrance on the deed based on this.
What are the contract terms?
500
Dolly's property was judicially foreclosed on and sold last week. Yesterday, she won the lottery. She can get her property back due to the right of ______________.
What is redemption?
500
Pursuant to the Protecting Tenants at Foreclosure Act of 2009, after foreclosure a month-to-month tenant has this many days to stay in the house before being evicted.
What is 90?
500
Your attorney signs a lis pendens on behalf of your client and then tells you to mail it. You mail it to this location.
What is the county recorder's office?
500
Ginny and Gus Gruntled are selling their ranch to Sam and Samantha Spicable. You are preparing the deed. You put this in the notary statement after the word "by." The foregoing instrument was acknowledged before me this ___ day of ______, 2___ by ________________. ___________________________________ Notary Public for Oregon My commission expires: _________
What is Ginny and Gus Gruntled (Ginny Gruntled and Gus Gruntled)?
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