(option not shown in picture: option e. recoupment)

Introduction Read the overview below and complete the activities that follow. Secured Interests in Land and Personal Property Aimee has graduated college and has been hired at an excellent salary. She makes purchases of real and personal property on credit and later defaults when she is laid off. Aimee's rights and the rights of her creditors must be determined. CONCEPT REVIEW: Analyzing this case will require an understanding of: how mortgages and deeds of trust work, -how attachment affects creditor's rights. -how perfection affects creditor's rights, -the rights a debtor has upon default. Case Analysis Read the case below and answer the questions that follow. Aimee has graduated from college and has started her first job, making an excellent salary. Needing a place to live, on August 1st she purchases a home and signs a deed of trust with TD Bank which is appropriately recorded. On August 2 nd, she buys a boat for $25,000 financing it through Bank of America. As collateral, she pledges a $50,000 diamond ring left to her by her grandmother. Bank of America has her sign a financing statement, with the ring listed as collateral, which they place in her file at the bank. On August 3rd she uses her Chase Visa card to buy a state-ofthe-art television for $5,000 and on August 4 th she buys $10,000 worth of furniture from Mort's Boutique, a local store, and they have her sign a financing statement in which she again pledges her diamond ring as collateral, Mort's has the financing statement recorded in the appropriate public office on August 6 th. August 5 th Aimee uses her Best Buy credit card to purchase a $10,000 audio system from Best Buy. Aimee gets fired on August 8 th and now can't pay any of her debts. Aimee fails to pay her mortgage payments for several months to TD Bank. The bank exercised its right of foreclosure to take control of her home. As mortgagor, Aimee has the right to regain title to the property after her default. Which of the following describes that right? Multiple Choice Redemption Recovery Reclamation Repurchase Dornamment