Gladys wants to purchase Ken's home and assume his mortgage from Bank of Vancouver,which has an excellent interest rate of 5%.Can the mortgage be assumed?
A) Yes,if Ken obtains consent of the Bank of Vancouver to the sale and assignment of mortgage.
B) Yes,if Ken obtains the consent of the Bank of Vancouver to the assignment.
C) No,the Bank of Vancouver must discharge the mortgage.
D) Yes,if Ken gives the Bank of Vancouver notice of the assignment.
E) Yes,if Gladys gives the Bank of Vancouver notice of the assignment.
Correct Answer:
Verified
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