The Religious Land Use and Institutionalized Persons Act: ...

[gbarreiro]

The Religious Land Use and Institutionalized Persons Act:
 A)Allows local entities to impose strict controls on religious building construction.
 B)Imposes restrictions on local restrictions on religious organizations.
 C)Is a federal law that has been declared unconstitutional.
 D)None of the above

Question 2

April 1, 2014 - O signs construction mortgage for construction of his home; Bank records construction mortgage August 15, 2014 - O signs permanent mortgage for purchase of newlybuilt home that covers home and all afteracquired property/fixtures; Bank records mortgage October 15, 2014 - Sears allows O to purchase on credit a new hot water heater October 20, 2014 - O installs hot water heater October 22, 2014 - Sears files financing statement January 2, 2015 - O defaults on mortgage payment February 2, 2015 - O declares bankruptcy Discuss who will have priority in bankruptcy.

[LVPMS]

Answer to Question 1

B

Answer to Question 2

The construction mortgage is paid and irrelevant; Sears has a perfected PMSI - has priority over Bank's mortgage.

[gbarreiro]

Gracias!

[blakcmamba]

Thanks for the timely response, appreciate it