In order to purchase an interest in piece of land called Blackacre,Rhiannon borrowed $100 000 from Nick.As security for the repayment of that loan,she entered into a mortgage over a piece of property.Which of the following statements is TRUE?
A) Blackacre must be the property that is subject to the mortgage.
B) The transaction must have occurred in a registry system.
C) Rhiannon must have purchased Blackacre from Nick.
D) Rhiannon must have purchased the fee simple in Blackacre.
E) If Rhiannon purchased a life estate in Blackacre,then it is possible that she gave a mortgage over a diamond ring that she owned.
Correct Answer:
Verified
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