Question: 1. In order for a contractor to establish an enforceable right for a mechanic's lien, which of the following requirements MUST be satisfied? a.Give prior
1. In order for a contractor to establish an enforceable right for a mechanic's lien, which of the following requirements MUST be satisfied? a.Give prior actual notice to the property owner of the contractor's intent to file a notice of lien. b.File a properly prepared notice of lien with the Secretary of State's office. c.Give actual notice of the lien filing to the municipal official in charge of building permits. d.Provide the property owner with a copy of the mechanic's lien statute. 2. When a mortgage is paid in full, the mortgagor should record which of the following documents with the county recorder? a)Receipt for payment b)Mortgage deed marked "paid" c)Extension of mortgage d)Satisfaction of mortgage 3. Agency disclosure requirements obligate a licensee to provide disclosure of representation when the licensee is involved in: a)commercial real estate rentals b)residential real estate sales c)federal foreclosure purchases d)buying and selling of business opportunities
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