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Which of the following is true of recording a mortgage? A failure to record the first mortgage would remove the obligation of the mortgagor to
Which of the following is true of recording a mortgage?
A failure to record the first mortgage would remove the obligation of the mortgagor to the first mortgagee. | ||
The second mortgagee must know about the first mortgage and is exempted to record the mortgage. | ||
If the mortgage is not recorded and a later mortgage is given on the same property, the old mortgage is superior to the second. | ||
Recording a mortgage notifies any third party that the mortgagee has an interest in the real property covered by the mortgage. |
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