Business

Seamus Bell

9 July, 00:14

Nelson (grantor) sells his home to randall (grantee) "subject to" an existing first mortgage loan he obtained five years ago. after nine months, randall can no longer continue to make the monthly payments. under these circumstances

a, the seller is primarily liable and the purchaser is secondary liable

b, the purchaser is primarily liable to the lender and the seller is secondarily liable

c, the purchaser is solely liable to the lender

d, the purchaser grantee has no liability to the lender

+5

Answers (1)

Know the Answer?

Not Sure About the Answer?

Find an answer to your question ✅ “Nelson (grantor) sells his home to randall (grantee) "subject to" an existing first mortgage loan he obtained five years ago. after nine ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.

Search for Other Answers

You Might be Interested in

Which of the following combinations of actions by Congress and the Federal Reserve would be most effective in stimulating an economy that is operating below full employment? An increase in the money supply when personal income taxes decrease.

1-a. Assume that Andretti Company has sufficient capacity to produce 120,150 Daks each year without any increase in fixed manufacturing overhead costs.

Cost of goods sold is obtained from Select one: a. analysis of all the control accounts in the cost system. b. the finished goods inventory records. c. the work in process inventory records. d. the Raw Materials Inventory control account. Check

Palm Company gathered the following reconciling information in preparing its April bank reconciliation: Cash balance per books, 4/30 $4,300 Deposits in transit 150 Notes receivable and interest collected by bank 850 Bank charge for check printing 20

Cory Bash has been a private company for all of its business life. The owners long to expand their vision around the world, but have only reached the US and parts of Latin America.

New Questions in Business

A salesperson receives a weekly salary of $500. In addition, $5 is paid for every item sold in excess of 200 items. How much extra is received from the sale of 215 items?

The Market Outlet has a beta of 1.38 and a cost of equity of 14.945 percent. The risk-free rate of return is 4.25 percent. What discount rate should the firm assign to a new project that has a beta of 1.25?

Mickey, Mickayla, and Taylor are starting a new business (MMT). To get the business started, Mickey is contributing $200,000 for a 40 percent ownership interest, Mickayla is contributing a building with a value of $200,000 and a tax basis of

On January 1, 2021, Corvallis Carnivals borrows $10,000 to purchase a delivery truck by agreeing to a 6%, three-year loan with the bank. Payments of $304.22 are due at the end of each month, with the first installment due on January 31, 2021.

Runner's warehouse purchased digital watches for $92.99. its markup rate is 25% based on the selling price. what is the selling price