hard · National Real Estate Exam
A, B, and C own a property as joint tenants. A and B jointly sign a $100,000 mortgage. C does not sign.
If A dies, what is the status of the mortgage?
- The mortgage is cancelled as to A's share but remains on B's share.
- The mortgage becomes a general lien against A's estate.
- The mortgage is void because C did not sign.
- The mortgage remains a lien on B's now larger interest, but C's interest is free of the lien.
Sign up free to see the explanation and track your rank →
More National Real Estate Exam practice
- A broker's employment contract with a seller is officially called the:
- What is the current status of the contract?
- A buyer defaults on a purchase agreement, and the seller chooses to keep the earnest money
- A buyer makes a written offer to a seller. Two days later, before the seller has responded
- A contract for the sale of a property is signed. Before closing, the property is destroyed
- A contract for the sale of real estate that has been signed by both parties is valid, but
- A contract that is valid and binding but allows one party to avoid the agreement because o
- A contract that is valid and enforceable until it is canceled by a party who was a victim