A court has said that Pedrag holds the equity of redemption in a piece of land called Blackacre.The other party involved in the mortgage is Clarissa.Which of the following statements is most likely TRUE?
A) If the equity of redemption is the only interest that Pedrag holds in Blackacre, that piece of property is located in a land titles system jurisdiction.
B) The equity of redemption is relevant only if Clarissa has obtained a final order for foreclosure.
C) The concept of equity of redemption is crucial to the creation of subsequent mortgages.
D) Pedrag is the mortgagee.
E) The "equity" involved in the equity of redemption has the same value as the debt that has yet to repaid between Pedrag and Clarissa.
Correct Answer:
Verified
Q30: Randall initially owned a piece of land
Q31: Pavla is the victim of mortgage fraud
Q32: Suneeta wants to buy a large commercial
Q33: In order to purchase an interest in
Q34: Which of the following statements provides the
Q36: Alisa successfully used the remedy of foreclosure
Q37: A registry system and a land titles
Q38: Which of the following statements provides the
Q39: Halle agreed to sell a piece of
Q40: Simeon owns a piece of land called
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents