In Order to Purchase an Interest in Piece of Land

question 44

Multiple Choice

In order to purchase an interest in piece of land called Blackacre, Rhiannon borrowed $100 000 from Nick.As security for the repayment of that loan, she entered into a mortgage over a piece of property.Which of the following statements is TRUE?

• A)It is possible that Rhiannon gave a mortgage over a diamond ring that she owned.
• B)The transaction must have occurred in a registry system.
• C)Rhiannon must have purchased Blackacre from Nick.
• D)Rhiannon must have purchased the fee simple in Blackacre.
• E)Blackacre must be the property that is subject to the mortgage.

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Definitions:

Developing

The process of growth, improvement, or advancement in skills, knowledge, or infrastructure within an individual, organization, or region.

Choosing

The act of making a selection from a range of options or deciding among possible alternatives.

Indiscriminately Copying

The action of replicating actions, processes, or information without selection, discernment, or adaptation to context.

Competitors

Businesses or individuals who offer similar products or services within the same market and vie for the same potential customer base.