Author Question: Original mortgagee A)0 B)2,000 C)4,000 D)6,000 E)8,000 F)92,000 Indicate whether the statement is ... (Read 34 times)

AEWBW · **on:** Jun 24, 2018

Original mortgagee
A)0
B)2,000
C)4,000
D)6,000
E)8,000
F)92,000
Indicate whether the statement is true or false

Question 2

R.C. Willey is the sole heir of J.D. Willey. In his will, Willey made the following grant to Toledo College, To Toledo College, my alma mater, so long as the property is used for a library for the students. Toledo College did build a library on the property in 1988. However, because of increased enrollment, Toledo College needs a larger library and has acquired land on the south side of the campus for purposes of constructing a new and larger library. Toledo has converted the building on the Willey property into a student tutoring center. R.C. Willey wants to know his rights. Which of the following best describes R.C.'s rights in the property?
A) Because the interest is a fee simple determinable and the use restrictions have been violated, title reverts back to J.D. Willey's heirs or to R.C.
B) Because the interest is a fee simple subject to a condition subsequent, R.C. has the right to bring action to have title to the property quieted in his name.
C) Because Toledo College's interest in the land has existed for so long, R.C. has lost any rights he might have in it.
D) The use of the property for a tutoring center is close enough and not conduct that results in the College's loss of title.