Question
In an equal footing state, property owner O owes the following: $160,000 Mortgage Lender, recorded January 1, 2020 $40,000 Foundation company, began construction December 30,
In an equal footing state, property owner O owes the following:
$160,000 Mortgage Lender, recorded January 1, 2020
$40,000 Foundation company, began construction December 30, 2019
$50,000 Framing company, did framing January 31, 2018
Property owner O has sold the property and there is $160,000 left to be distributed. How should this amount be distributed?
| a. | 160/250, 40/250, and 50/250 x $160,000 | |
| b. | The mortgage lender takes one-half and the remainder is split pro rata | |
| c. | $160,000 to the mortgage lender | |
| d. | 40/250 and 50/250 x $160,000 with mortgage company taking nothing |
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The Handbook Of Investing In Todays Financial Markets
Authors: Alessandro De Cristofaro
1st Edition
1070350931, 978-1070350936
