Asked by
Indira Beresford
on Nov 23, 2024Verified
The following are the usual covenants of the mortgagor under a mortgage, except:
A) to pay the mortgage in accordance with its terms.
B) to pay municipal taxes.
C) not to remortgage without consent.
D) to insure the premises.
E) not to commit waste.
Remortgage Without Consent
The act of obtaining a new mortgage on a property without the approval or agreement of the existing lender or relevant parties who have an interest in the property.
Municipal Taxes
Local government levies imposed on property owners to fund public services such as schools, roads, and emergency services.
Insure Premises
The process of obtaining insurance coverage for physical property against loss or damage.
- Comprehend the obligations of the mortgagor and the options at the mortgagee's disposal in the event of non-compliance.
Verified Answer
MD
Learning Objectives
- Comprehend the obligations of the mortgagor and the options at the mortgagee's disposal in the event of non-compliance.