Gladys wants to purchase Francesco's home and assume his mortgage from the Bank of Vancouver, which has an excellent interest rate of 3.5%. Can the mortgage be assumed?
A) Yes, if Francesco obtains consent of the Bank of Vancouver to the sale and assignment of mortgage.
B) Yes, if Francesco obtains the consent of the Bank of Vancouver to the assignment.
C) No, the Bank of Vancouver must discharge the mortgage.
D) Yes, if Francesco 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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