That Portion of a Mortgage That Requires the Borrower to Preserve

question 31

True/False

That portion of a mortgage that requires the borrower to preserve and maintain the pledged property is called the covenant of good repair.

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Definitions:

Divorce Agreement

A legally binding document outlining the resolution of matters concerning divorce, including asset division, alimony, and child custody.

Fraudulent Misrepresentation

A false statement made knowingly to deceive another party, leading them to enter into a contract or agreement.

Assertion

An assertion is a confident and forceful statement of fact or belief.

Fraudulent Misrepresentation

A false statement made knowingly or recklessly to induce another party to enter into a contract, resulting in harm or loss.