It refers to the right of mortgagor to redeem the mortgaged property after his default of the performance of his obligation by paying the secured obligation in order to prevent the public sale of his mortgaged property. a. Equity of redemption b. Right of redemption c. Right of preemption d. Equity of preemption
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It refers to the right of mortgagor to redeem the mortgaged property after his default of the performance of his obligation by paying the secured obligation in order to prevent the public sale of his mortgaged property. a. Equity of redemption b. Right of redemption c. Right of preemption d. Equity of preemption
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- Which of the following security instruments, if any, does not allow the debtor the right of redemption upon default? a. Mortgage foreclosure by "action and sale" b. "Strict foreclosure" of mortgage c. Debtors have a right to redeem property under all of these security instruments. d. Deed of trust e. Mortgage foreclosure by "power of sale"State the rules in case of the thing to be delivered is lost with the debtor's fault or without his fault.A release clause in a note and deed of trust is activated by a.the full satisfaction of the terms of the loan. b.the reconveying of the property to the trustee. c.the foreclosure on the property. d.the conveying of title to the trustee.
- A mortgagee is entitled to certain consideration in the event of a loss to property when indicated as the mortgagee on an insurance policy. Which one (1) of the following is the consideration? OA) The mortgagee is entitled to the proceeds of the insurance to the extent of its financial interest in the property. OB) The mortgagee is entitled to the full proceeds of the insurance. OC) The insured and the mortgagee are permitted to consider the loss and decide between them how much each will receive. OD) The insurer pays the entire loss to the insured who is required to satisfy the mortgagee.Redeemable debentures can be described as__________ Select one: a. debenture secured by either movable or immovable assets. The debenture holder has the right to claim repayment from the proceeds of the sale of assets. b. debentures that are not secured by any asset. The debentures holders have the same rights as any other creditor on the case of liquidation. c. debenture holders have the option to convert their debenture into specific shares after a specified period. d. debentures may be redeemed prior to the maturing date.Explain the rights of a creditor against a surety and the rights of a surety, including those of a cosurety.
- The co-owner of an immovable property has a right to exercise A. pre-emption B. Redemption C. Legal Redemption D. Conventional redemptionA note secured by a deed of trust provides for an automatic action of the laws known as a.a strict foreclosure. b.equitable rights. c.a power of sale. d.a statutory right.What is/are the rule/rules (and the exceptions, if there be any) in case an object is lost or damaged due to fortuitous event, particularly as to the liability of the debtor in an obligation.
- If a loss from sale or exchange of property between related parties is disallowed and the property is subsequently sold to an unrelated party, a.The disallowed loss is lost forever. b.The disallowed loss may be used if there is a further loss on the subsequent sale. c.The unrelated party may claim the loss previously disallowed. d.An amended return may be filed to claim the loss previously disallowed. e.The disallowed loss may be used to offset gain on the subsequent sale.If after paying debts and expenses, the estate principal is not adequate to satisfy the various legacies, the legacies are satisfied to whatever extent possible through the: a. probate process. b. a property devise. c. abatement process. d. legacy process.Which of the following is most likely to result in the recognition of a liability? a. Customers become entitled to rebates for their past purchases. b. Intention to acquire inventories in a future period. c. Entering into a purchase contract for future delivery. d. Agreeing on an irrevocable future commitment that is not burdensome at present.