When a Property Is Subject to a Mortgage, Who Is

question 10

Multiple Choice

When a property is subject to a mortgage, who is responsible for paying the taxes?

• A)the mortgage abates tax liability
• B)the bank
• C)the mortgagee
• D)the mortgagor

---

Definitions:

Simultaneous Game

A game theory model where players make decisions or choose strategies at the same time, without knowledge of the others' choices.

Nash Equilibrium

A concept in game theory where each player's strategy is optimal, given the strategies of other players, leading to a situation where no player has anything to gain by changing only their own strategy.

Payoffs

The outcomes or returns from a particular strategy or action, often analyzed in game theory and economics.

Fight of the Century

commonly refers to iconic and highly anticipated boxing matches; the term can describe several historic bouts.