Which of the following is NOT true: Real property with a mortgage is considered encumbered. Mortgagers...

Which of the following is NOT true:
1. Real property with a mortgage is considered encumbered.
2. Mortgagers typically have secured interests in real property.
3. Once a mortgage loan is in place, a borrower can no longer develop the property.
4. A mortgage loan must be paid off prior to selling the underlying real property.

Expert Solution

Answer:

OPTION C: Once a mortagge loan is in place, the borrower cannot develop the property.

Reason: This is not true becaus ethere is no restriction on development of the property however there is restriction in the sale of such mortgaged property. It can't be sold to anyone.

jeff jeffy answered 2 years ago

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