What requirements would you add for the disbursement

Assignment Help Business Law and Ethics

Reference no: EM133362334

Question 1. The street in front of Sarah Baker's house is being widened from two to four lanes. The widening will require the county to take approximately 10 feet of Sarah's front yard. The county has promised to pay Sarah $20,000 for the land being taken. Sarah's home loan is secured by a mortgage to First Bank and Trust. You have been requested by the attorney who represents Sarah to review the First Bank and Trust mortgage papers to see if that lender has any claim to the proceeds. What would you look for in the mortgage loan documents, and what would you expect to find?

Question 2. You have been asked to prepare a construction loan agreement for a lender client of the firm. The lender wants the maximum protection against problems as it disburses the loan proceeds. In drafting the construction loan agreement, what requirements would you add for the disbursement of the loan proceeds during construction?

Hinkel, Daniel F.. Practical Real Estate Law (MindTap Course List) (p. 356). Cengage Learning. Kindle Edition.

Reference no: EM133362334

Questions Cloud

Patient assistive device to get out of bed : Would you give the patient an assistive device to get out of bed with his age? How would you try to gain the patient and his wife's trust?

What are some examples of hidden histories : What are some examples of "hidden" histories and why are they hidden? For posts to receive full credit you must complete your post to assigned chapter readings

Share your thoughts on the quote above in the context : share your thoughts on the quote above in the context of problem solving and decision making

How well does a market-based system function for health care : Which types of market-based reforms do you prefer-supply-side controls, demand-side controls, or market controls? Which actors have the most control over price

What requirements would you add for the disbursement : In drafting the construction loan agreement, what requirements would you add for the disbursement of the loan proceeds during construction

What classes of persons and businesses will the long-arm : What classes of persons and businesses will the long-arm statue reach in New Mexico? What is (are) the method(s) of service required to comply with the long-arm

What are some of the potential benefits and limitations : Gee says that "Discourses are ways of being in the world, they are forms of life which integrate words, acts, values, beliefs, attitudes, and social identities

What are some of the issues this new technology brings : What are some of the issues / concerns this new technology brings with it? Include in your assignment the issues of transparency

Obama care program or policy : Could become involved in evaluating the Obama Care program or policy after one year of implementation.

User Account

All Pages