A Mortgagor Finances the Purchase of Property,holds Title to It

question 102

True/False

A mortgagor finances the purchase of property,holds title to it until it is paid for,and can take possession in the event of default.

---

Definitions:

Bound Agreement

A legally binding contract or arrangement between parties.

Illusory Promise

An agreement that lacks a true commitment from the promisor, making it unenforceable as a contract.

Accord

An agreement between parties to settle a dispute or obligation.

Satisfaction

The fulfilment of a requirement, payment of a debt, or resolution of a claim.