In Order to Purchase an Interest in Piece of Land

question 17

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)Blackacre must be the property that is subject to the mortgage.
• 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)If Rhiannon purchased a life estate in Blackacre,then it is possible that she gave a mortgage over a diamond ring that she owned.

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