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Home Q & A Board Humanities Legal Studies
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ohiosr ohiosr
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6 years ago
George owns an acre of land and severs, or divides, it into building lots. Before George can build on the lots he requires money to finance the construction costs, so he goes to his bank and gets first mortgage financing in the amount of $1.5 million and the bank registers the mortgage on all the building lots. If George finishes construction on one building lot, sells it, and pays down the bank's mortgage, the bank will give George
a. a complete assignment of the mortgage.
b. a complete discharge of the mortgage.
c. a partial assignment of the mortgage.
d. a reconveyance of legal title to all the lots.
e. a partial discharge of the mortgage.
Textbook 
The Law and Business Administration in Canada

The Law and Business Administration in Canada


Edition: 14th
Authors:
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MiY4GiMiY4Gi
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ohiosr Author
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6 years ago
Thanks
africa143
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Yesterday
Helped a lot
ouasfoudgewu
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2 hours ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
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