Which of the Following Is True of the Recording Statute

question 90

Multiple Choice

Which of the following is true of the recording statute?

• A) It affects the legality of the instrument between the mortgagor and the mortgagee.
• B) The mortgagor is not obligated to pay the amount if the document is not recorded.
• C) The mortgagor is obligated to pay even if the document is not recorded.
• D) An improperly recorded document is still effective against other mortgagees and purchasers.

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Definitions:

Higher Incomes

Refers to an increase in the amount of money earned by individuals or households, typically from employment, investments, or business operations.

Benefits

In economics, benefits refer to the positive outcomes or gains received by consumers or producers from engaging in a transaction or investment.

Price

The amount of money expected, required, or given in exchange for goods or services.

Area

A measure of the extent of a two-dimensional figure or shape in a plane.