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Susan Bought Green Acre Subject to a $500,000 Mortgage Granted

Question 65

Multiple Choice

Susan bought Green Acre subject to a $500,000 mortgage granted by Joe to First Bank.If Joe leaves for Bolivia and does not pay the mortgage, which of the following is true?


A) Susan will not have to pay the $500,000.
B) Susan will lose the land to First Bank (up to $500,000 value) .
C) Both of these are correct.
D) None of these are correct.

Correct Answer:

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