Asked by Basinger Dominguez on Jun 15, 2024
Verified
Someone who expressly assumes a mortgage is personally obligated to pay it.
Assumes a Mortgage
The act of taking on the obligation to pay an existing mortgage, typically as part of a property purchase.
- Understand the fundamental principles of mortgage law, covering the duties and rights of both mortgagors and mortgagees.
Verified Answer
MZ
Michael ZalewskiJun 18, 2024
Final Answer :
True
Explanation :
When someone expressly assumes a mortgage, they are taking on the obligation to personally pay it.
Learning Objectives
- Understand the fundamental principles of mortgage law, covering the duties and rights of both mortgagors and mortgagees.