Use the fact situation in Q1 to answer the related question that follows. Based on the date and time of registration of the Royal Bank and the TD Canada Trust mortgages,if George defaults in payment of the Royal Bank mortgage,
A) the Royal Bank can sell George's house,but must pay off TD Canada Trust out of the sale proceeds.
B) the Royal Bank can sell George's house and can keep the sale proceeds.
C) TD Canada Trust can sell George's house,but must first pay off the Royal Bank out of the sale proceeds.
D) there is a corresponding default in the TD Canada Trust mortgage and TD Canada Trust can sell George's house.
E) the Royal Bank cannot sell George's house unless TD Canada Trust consents.
Correct Answer:
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