If a Mortgagee Does Not Register the Mortgage, the Mortgagee

question 30

Multiple Choice

If a mortgagee does not register the mortgage, the mortgagee:

• A) cannot enforce the mortgage against the property if it is sold
• B) loses the right to have a court supervised sale
• C) loses the right to foreclose on the property
• D) loses the right to sue the mortgagor
• E) all of the above

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Definitions:

Moral Hazard

The situation where one party engages in risky behavior because it knows another party bears the consequences or risks.

Disaster Relief

Assistance provided to individuals or communities to help them recover from natural or man-made disasters.

Crop Insurance

Insurance that farmers can purchase that will pay out if crop selling prices or crop revenues fall below predetermined values.

Consumer Surplus

The disparity between the total consumers intend and can afford to pay for a good or service versus what they actually spend.