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Author Question: Louis and Karen Moroz can no longer make the payments on their home. They owe 280,000 on their ... (Read 211 times)

NClaborn

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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.


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joneynes

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Reply #1 on: Jun 24, 2018
Answer to Question 1

D

Answer to Question 2

B


NClaborn

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Reply #2 on: Jun 24, 2018
Correct answers!


joneynes

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Reply #3 on: Jun 24, 2018
Great! Please up vote :D


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