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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Definitions:

Coin Toss

A Coin Toss is a method of making a random decision between two alternatives by flipping a coin into the air and seeing which side lands face up.

Inherited Traits

Characteristics or attributes that are passed down from parent organisms to their offspring through their genes.

Sex-Linked Traits

Traits associated with genes located on sex chromosomes, often displaying different patterns of inheritance in males and females due to their chromosomal configuration.

Sex Chromosomes

Chromosomes that determine the sex of an organism, typically one of two kinds: X and Y in mammals.