If There Are Several Mortgages Over One Parcel of Land

question 26

Multiple Choice

If there are several mortgages over one parcel of land how is priority determined?

• A)Priority is determined by the date of creation.
• B)It is not possible to have several mortgages over one parcel of land.
• C)An equitable mortgage takes priority over a legal mortgage.
• D)A legal mortgage takes priority over an equitable mortgage.

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