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Real Property > Priorities > Flashcards

Priorities Flashcards

1
Q

Recording

A

A creditor must properly record to have priority

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2
Q

FITFIR

A

First in Time First In Right (Exception) Purchase money Mortgage

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3
Q

Purchase Money Mortgage

A

A mortgage given to secure a loan that ENABLES the debtor to acquire encumbered land

RECEIVES SUPERPRIORITY

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4
Q

Subordination

A

Agreement to subordinate a claim to another VALID

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Real Property (27 decks)

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