Which statement is incorrect concerning mortgages?
A) The mortgagee's interest terminates upon performance of the obligation secured by the mortgage.
B) The mortgagee has the right to enforce the mortgage by foreclosure upon default by the mortgagor.
C) The mortgagor must have complete or absolute ownership in the property.
D) Generally, no particular form of language is required to create a mortgage.

Question

Quizplus · Accepted Answer

The mortgagor does not need to have complete or absolute ownership in the property to create a mortgage. The mortgagor must have some ownership interest in the property, but it can be a partial interest or a leasehold interest.

Which Statement Is Incorrect Concerning Mortgages