This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Louis and Karen Moroz can no longer make the payments on their home. They owe 280,000 on their ... (Read 188 times)

NClaborn

  • Hero Member
  • *****
  • Posts: 560
on: Jun 24, 2018
Louis and Karen Moroz can no longer make the payments on their home. They owe 280,000 on their mortgage and their home was appraised at 195,000. The Morozes decide to just walk away from their home. What are the implications of their decision?
 A)The mortgagee has no right of collection from them
 B)Walking away does not affect their credit rating
 C)They may take any fixtures with them that they have installed
 D)None of the above

Question 2

To my husband for life, then to my niece, Rebecca, for life, and then to my heirs. The husband holds:
 A) A fee simple determinable.
 B) A life estate.
 C) A contingent remainder.
 D) A possibility of reverter.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

joneynes

  • Sr. Member
  • ****
  • Posts: 376
Reply #1 on: Jun 24, 2018
Answer to Question 1

D

Answer to Question 2

B


NClaborn

  • Hero Member
  • *****
  • Posts: 560
Reply #2 on: Jun 24, 2018
Correct answers!


joneynes

  • Sr. Member
  • ****
  • Posts: 376
Reply #3 on: Jun 24, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

Did you know?

Medication errors are more common among seriously ill patients than with those with minor conditions.

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

This year, an estimated 1.4 million Americans will have a new or recurrent heart attack.

Louis Pasteur Louis Pasteur
Stand over a rocker base to make weight shifts. Stand over a rocker base to make weight shifts.
Two wells are filled with the same antigen, and when they diffuse to the antibody, they make a line ... Two wells are filled with the same antigen, and when they diffuse to the antibody, they make a line ...
The Nutrient Fact Panel on the food label can help consumers make smart nutrition choices The Nutrient Fact Panel on the food label can help consumers make smart nutrition choices
Finding the length given total distance and distance longer than other point Finding the length given total distance and distance longer than other point
calculate the quantities required to make 5 lb of hydrophilic ointment: calculate the quantities required to make 5 lb of hydrophilic ointment:
Video: Phases of the ovarian cycle

For a complete list of videos, visit our video library