Author Question: Place the following creditors on one residential property in order of priority. January 1, 2014 - ... (Read 29 times)

Mollykgkg

  • Hero Member
  • *****
  • Posts: 529
Place the following creditors on one residential property in order of priority. January 1, 2014 - Initial mortgage (recorded) March 1, 2014 - Second mortgage for swimming pool (recorded) June 1, 2014 - PMSI security interest in new air conditioner that is installed on the property September 1, 2015 - Sears kitchen remodeling with new built-in appliances (PMSI recorded)

Question 2

A debtor may redeem collateral from the secured party at any time prior to sale or disposal by paying all legal costs and expenses incurred by the secured party.
  Indicate whether the statement is true or false



essyface1

  • Sr. Member
  • ****
  • Posts: 347
Answer to Question 1

1. Sears
2. Initial mortgage

3. Second mortgage

4. Air conditioner creditor (failed to record)

Answer to Question 2

TRUE



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

It is believed that the Incas used anesthesia. Evidence supports the theory that shamans chewed cocoa leaves and drilled holes into the heads of patients (letting evil spirits escape), spitting into the wounds they made. The mixture of cocaine, saliva, and resin numbed the site enough to allow hours of drilling.

Did you know?

More than 2,500 barbiturates have been synthesized. At the height of their popularity, about 50 were marketed for human use.

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Did you know?

Anesthesia awareness is a potentially disturbing adverse effect wherein patients who have been paralyzed with muscle relaxants may awaken. They may be aware of their surroundings but unable to communicate or move. Neurologic monitoring equipment that helps to more closely check the patient's anesthesia stages is now available to avoid the occurrence of anesthesia awareness.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

For a complete list of videos, visit our video library