Joan and Jan Brewer own their home as joint tenants with ROS. Jan borrowed $375,000 from First Thrift Trust. First Thrift Trust took a mortgage on the property owned by Jan and Joan. Joan was unaware of the mortgage and did not sign any paperwork for the mortgage. Jan has died without paying off the First Thrift Trust loan. Suppose that Joan passes away and Jan has still not paid off the First Thrift Trust mortgage. Which of the following statements is correct?
A) First Thrift Trust can foreclose on the mortgage on the property.
B) Joan's estate is liable for the First Thrift Trust loan.
C) The property is not subject to the First Thrift Trust mortgage.
D) Jan and First Thrift Trust own the property as co-tenants.
Correct Answer:
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