Solved

Jane Has Financed Her One-Acre Lot Through Bank Thrift Trust

Question 77

Multiple Choice

Jane has financed her one-acre lot through Bank Thrift Trust and secured it with a mortgage. Jane already owned a mobile home, which she placed on the lot and then resided there. After 3 years of payments, Jane defaulted on the mortgage. Because property values had deteriorated, Jane simply walked away and left the lot and the mobile home. Bank Thrift Trust has taken over the land and the mobile home. Bank Thrift Trust:


A) Owns the mobile home.
B) Is a trespasser on the property.
C) Is a tenant at will in the mobile home.
D) Can do nothing with the mobile home.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents