The sophisticated beneficiary of a junior deed of trust on real property:
A. Records a Request for Notice of Default.
B. Records the document with the Secretary of State.
C. Signs a subordination clause when making the loan.
D. Charges 30% interest or more if the beneficiary is an individual.
Such a "request for notice of default and sale" informs junior lien holders of situations that could result in possible sale by senior lien holder (due to default by the trustor). Such a sale could deny the junior lien holder the repayment of the money lent by the junior lien holder.
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78310 Points
Educating realtors for 20 years
Exam Details
This exam covers the national portion of the Brokers Exam.
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Added: 8/18/2008
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