hard · National Real Estate Exam property-ownership
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 entirely as to A's share but remains a lien on B's interest
- The mortgage becomes a general lien against the probate estate that A left behind after death occurred
- The mortgage is void in its entirety because C, a non-signing co-owner, never consented to it at all
- The mortgage remains a lien on B's now larger interest, but C's interest is free of the lien.
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