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

Author Question: Nelson granted a first mortgage on his property to Vancouver Trust as security for a loan of $110 ... (Read 63 times)

anjilletteb

  • Hero Member
  • *****
  • Posts: 569
on: Aug 7, 2021
Nelson granted a first mortgage on his property to Vancouver Trust as security for a loan of $110 000, and a second mortgage to Hong Kong Bank as security for a loan of $25 000. Which of the following statements is false? Read each separately.
◦ Nelson has given Vancouver Trust his fee simple interest and Hong Kong Bank his right to redeem, and he has retained a right to redeem.
◦ If Nelson is in default on his first mortgage, Vancouver Trust has a contractual right to sell.
◦ If Nelson were to default on his first mortgage, Vancouver Trust could petition the court to set a period of time within which the debtor must pay off the mortgage (redeem his title).
◦ If Nelson were to default on his second mortgage only and the second mortgagee foreclosed, then the first mortgagee and Nelson himself would lose their interests in the property.
◦ If Nelson were to default on his first mortgage, at the first hearing he would likely be granted a redemption period within which he could pay his debt and thus avoid foreclosure.
Legal Fundamentals for Canadian Business ¦ Yates ¦ 4th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by anjilletteb on Aug 7, 2021

JYan

  • Sr. Member
  • ****
  • Posts: 331
Reply #1 on: Aug 7, 2021
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 60% of students answer this correctly


anjilletteb

  • Member
  • Posts: 569
Reply 2 on: Aug 7, 2021
Wow, this really help

Bigfoot1984

  • Member
  • Posts: 321
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

Did you know?

On average, someone in the United States has a stroke about every 40 seconds. This is about 795,000 people per year.

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

Did you know?

Essential fatty acids have been shown to be effective against ulcers, asthma, dental cavities, and skin disorders such as acne.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Snow Leopard cubs at the Cat Survival Trust, Welwyn, UK. Snow Leopard cubs at the Cat Survival Trust, Welwyn, UK.
Prestige can sometimes be converted into property. Shown here is “Snooki” Polizzi, a reality ... Prestige can sometimes be converted into property. Shown here is “Snooki” Polizzi, a reality ...
How to calculate mortgage payments (Question 1 of 2) How to calculate mortgage payments (Question 1 of 2)
Spectrum of Food Security Food insecurity and hunger are points along the continuum Spectrum of Food Security Food insecurity and hunger are points along the continuum
Factors in Food Security Factors in Food Security
Relationship between Trust and Investment Relationship between Trust and Investment
Video: EpiPen Animation (Part 2)

For a complete list of videos, visit our video library