Question
32 of 75. Repossession is reclaiming possession of, Property that has been sold under an installment contract from a purchaser in default. Real property that
32 of 75. Repossession is reclaiming possession of, Property that has been sold under an installment contract from a purchaser in default. Real property that has been sold to a purchaser with a recourse loan. Real or personal property not sold under an installment contract from a purchaser. O Personal property that has been sold to a purchaser with a recourse loan. Mark for follow up Question 33 of 75. Jason's bank foreclosed on his office building when he stopped making loan payments. The loan was secured by t building when he purchased it three years ago for $650,000. Jason's Form 1099-A indicated that the debt at the tim foreclosure was $620,000 and the fair market value (FMV) of the building was $660,000. Additionally, box 5 was checked. If the building is sold for the FMV, how much of Jason's personal assets can the bank attempt to collect # satisfy the judgment? $40,000 $30,000 $10,000 $0
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