A builder bought all 20 lots in a subdivision from the developer, who carried most of the purchase price on one loan. To sell the lots, he must include a
A) reverse loan clause.
B) sale-lease back clause.
C) package mortgage clause.
D) partial release clause.

Question

Quizplus · Accepted Answer

To sell the lots the builder must have a partial release clause to release each lot from the blanket loan.

A Builder Bought All 20 Lots in a Subdivision from the Developer