Introduction

This chapter contains information about legal instruments, liens, escrows, and related issues.

In this Chapter

This chapter contains the following topics.

Topic

Topic Description

See Page

1

Security Instruments

9-2

2

Title Limitations

9-5

3

Land Sale Contracts and Option Contracts

9-8

4

Secondary Borrowing

9-9

5

Purchase of Property with Encumbrances

9-11

6

Liens Covering Community-Type Services and Facilities

9-12

7

Powers of Attorney

9-14

8

Lender Review of Sales Contracts on Proposed Construction

9-17

9

Escrow for Postponed Completion of Improvements

9-20

10

Hazard Insurance

9-24

11

Escrow for Taxes and Insurance

9-27