Linda and David borrowed $10,000 from the Smart Loan Company and executed a mortgage on their home to Smart Loan as security for the note. Smart Loan did not record the mortgage. If Linda and David sell their home to Sheila, and Sheila is not aware of the mortgage, then the mortgage is ________.
A. as valid for Sheila as it is to Linda and David
B. invalid for all parties
C. not valid for Sheila
D. valid for future creditors only
Answer: C
You might also like to view...
Income taxes
a. will increase the break-even point. b. will decrease the break-even point. c. have no impact on the break-even point. d. may increase or decrease the break-even point depending upon the income tax rate.
A user not calling the service desk and instead asking his coworker for help is known as ____ support
A. informal B. walk-up C. bypass D. peer-to-peer
A decertification election is held when an employer does not want the presence of multiple unions in the organization
Indicate whether the statement is true or false
What does the concept of inclusive workplace refer to?
What will be an ideal response?