Under the registry system,when a first mortgagee gives a discharge of its mortgage to the mortgagor,the effect of the discharge if registered is to

Question

Quizplus · Accepted Answer

When a first mortgagee gives a discharge of its mortgage to the mortgagor under the registry system, if registered, it has the following effects:
A) Legal title of the land is reconveyed to the mortgagor.
B) The discharge acknowledges that the mortgage debt has been paid in full.
C) The encumbrance on the land is cancelled.
D) All rights and remedies of the mortgagee come to an end.
Hence, all of the above options are correct, and the best choice is E.

Under the Registry System,when a First Mortgagee Gives a Discharge