Alexis borrowed $500 000 from Chong.As security for the repayment of the loan, she gave a mortgage over her property.The property is registered under a land titles system.Alexis has now repaid the loan and otherwise satisfied the terms of the mortgage.Nevertheless, she may not be entitled to a re-conveyance of title.

Question

Quizplus · Accepted Answer

Even though Alexis has repaid the loan and satisfied the mortgage terms, she may not be entitled to a re-conveyance of title if there are any legal disputes or issues with the mortgage agreement. Additionally, the process of re-conveyance may also involve certain fees or requirements that Alexis needs to fulfill before she can regain full ownership of her property. Therefore, it is possible that despite fulfilling her repayment obligations, Alexis may still not be entitled to a re-conveyance of title.

Alexis Borrowed $500 000 from Chong