The following questions (Q15-Q17) relate to Phill and Claire; clients who are interested in investing in real property. You are required to provide them with answers to the following questions. 

Phil and Claire expect to enter into Torrens Title mortgages to purchase their investment properties. They are worried that they default on a mortgage, that the mortgagee bank will immediately be able to foreclose on the property and they will lose everything. 

(a). Is their statement correct? (Yes or No answer is required, please provide an explanation to support your answer) 

(b). Explain to Phil and Claire what is the nature of a Torrens Title mortgage and what happens if a mortgagor default.