In the context of principle-based ethics, rights and duties are correlated.
Answer the following statement true (T) or false (F)
True
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Indicate whether the statement is true or false
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Indicate whether the statement is true or false
Samson bought a house from Kevin with a closing dateof June 20 with the transfer (deed) dated for this same date. Unknown to Samson, two weeks earlier, Kevin had obtained a loan from a bank, using the house as collateral
Owing to an administrative oversight, the bank did not get the mortgage documents registered until 2 pm on June 20.Samson's lawyer submitted the transfer for registration at 3.30 pm on June 20. Samson doesn't know if he should complete the deal. Which one of the following statements most accurately describes the legal position? A) Samson's interest would be subject to the bank's mortgage. B) Since Samson was not aware of the mortgage, the mortgage is not enforceable against him. C) The bank has a valid mortgage, but it would be subject to Samson's interest. D) Samson's deed is dated before the mortgage so it has priority over the mortgage. E) The mortgage is only enforceable as a simple debt against Kevin.
Can the holder of a life estate mortgage his life estate?
A) Yes, so long as the mortgage term is limited to the length of the life estate B) No, because a life estate is not real property C) Yes, with the only restrictions being those applicable to a mortgage of a fee simple interest D) Yes, but only if the holder of the remainder interest or reversion also simultaneously mortgages that interest E) No, because of the uncertainty over how long the interest will last