A promissory note has the following language: "This note is secured by Lots 117, 118, and 119 in Arboleda Estates."
The note was recorded to protect the lender with a mortgage on the lots. The borrower defaulted on the note. Can the lender foreclose based on the recorded note?
A) Yes, because the note was recorded and the lender is a secured creditor
B) No, because you cannot record a note
C) No, because the description is inadequate
D) Only if the lender signed the note
Correct Answer:
Verified
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