When a Property Has More Than One Mortgage, the Priority

question 72

Multiple Choice

When a property has more than one mortgage, the priority of those mortgages will be determined by which of the following?

• A)the date each mortgage document was signed
• B)the mortgage with the higher principal amount comes first
• C)the date each mortgage was registered
• D)the type of mortgage that has been given, conventional mortgages taking priority over vendor take-back mortgages and the like
• E)the date each mortgage was notarized

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Definitions:

Mutual Exclusivity Assumption

A concept in language acquisition where young children assume that objects only have one label.

Infant-Directed Speech

A special, modified way of speaking adults use when talking to babies, characterized by higher pitch, slower rate, and exaggerated intonation, thought to aid language learning.

Pragmatics

The aspect of language involving the practical use of speech and communication in context, including tone, social cues, and conversation skills.

Contrast Assumption

The idea that people make judgments about an event or situation by comparing it to something else, rather than evaluating it in isolation.