Florida Real Estate Practice Exam

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Prepare for your Florida Real Estate Exam with a comprehensive quiz featuring multiple-choice questions, hints, and detailed explanations. Gain the confidence you need to succeed in obtaining your real estate license!

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Which method best describes the foreclosure process in Florida?

  1. Caveat emptor

  2. Judicial

  3. Lis pendens

  4. Non-judicial

The correct answer is: Judicial

The best method to describe the foreclosure process in Florida is through the judicial process. This involves a lawsuit filed by the lender to obtain a court order to foreclose on the property. Option A, Caveat emptor, is a Latin term meaning "let the buyer beware" and has no relevance to the foreclosure process. Option C, Lis pendens, is a notice filed with the county when a lawsuit is pending and does not describe the actual method of foreclosure. Option D, Non-judicial, is a method used in some states but not in Florida, where the court is not involved and the foreclosure is handled outside of the legal system. Therefore, option B is the only correct answer that accurately describes the foreclosure process in Florida.

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