Nv Lease Procedure

6 Questions

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Parliamentary Procedure Quizzes & Trivia

When to show and when to not show Leases.


Questions and Answers
  • 1. 
    What is a lease?
    • A. 

      Is an option to maybe consider buyer property

    • B. 

      Is an agreement by which an owner of real property gives the right of possession to another, for a specified period of time and for a specified consideration.

    • C. 

      Is a Deed of conveyance.

    • D. 

      Is an agreement to purchase personal property.

    • E. 

      None of the above

  • 2. 
    Do you show a lease that is disclosed by a, Notice of Non-Responsibility, Notice of Completion or Mechanics Lien?
    • A. 

      Yes

    • B. 

      No

  • 3. 
    If you have put the Lease as an exception, true or false....you must show all Deeds of Trust and Financing Statements that affect the same leasehold estate?
    • A. 

      True

    • B. 

      False

  • 4. 
    You must show all rent rolls from the Base/Starter in the new report?
    • A. 

      True

    • B. 

      False

  • 5. 
    You will run the PI and the GI for "leasehold interest" differently then you do "fee interest"?
    • A. 

      True

    • B. 

      False

  • 6. 
    If you have four conveyances of the lease, you will need to run the GI search on all parties who took interest on the lease within the 10 year period from current plat date.
    • A. 

      True

    • B. 

      False