A Court Has Said That Pedrag Holds the Equity of Redemption

question 7

Multiple Choice

A court has said that Pedrag holds the equity of redemption in a piece of land called Blackacre.The other party involved in the mortgage is Clarissa.Which of the following statements is most likely TRUE?

• A)If the equity of redemption is the only interest that Pedrag holds in Blackacre, that piece of property is located in a land titles system jurisdiction.
• B)The equity of redemption is relevant only if Clarissa has obtained a final order for foreclosure.
• C)The concept of equity of redemption is crucial to the creation of subsequent mortgages.
• D)Pedrag is the mortgagee.
• E)The "equity" involved in the equity of redemption has the same value as the debt that has yet to repaid between Pedrag and Clarissa.

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