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A deed was properly completed and executed. Title to the property was passed when the deed was
A. Signed
B. Recorded
C. Acknowledged
D. Accepted by the grantee
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- John and Jane are partners who purchase and renovate houses. Five years ago, they purchased a house in Portsmouth, New Hampshire with all of their available cash. Having no money to make repairs they asked a contractor Jim to agree to do repairs on the house for a third of the profit when the house sold. The contractor repaired the house within a year. Jim has worked with John and Jane previously there was no written agreement. Once the house was repaired John and Jane rented the house. Recently without telling Jim, John and Jane entered into a purchase and sales agreement with their tenant for a $200,000 profit. Jim found out about the proposed sale and has filed a lawsuit against John and Jane for his share of the sale profits and rental proceeds. Jim also requested and received from the Court a pre-judgment attachment which prevents the sale of the house until the lawsuit is resolved. Due to the increased value of the real estate the Tenants are now suing John and Jane asking…John Bunker has assets of $130,000 and liabilities of $185,000 owed to nine creditors. Nonetheless, his cash flow is positive, and he is making payment on all of his obligations as they become due. I. M. Flintheart, who is owed $22,000 by Bunker, files an involuntary petition in bankruptcy under Chapter 7 against Bunker. Bunker contests the petition. What result? Explain.A mortgage is transfer of an interest in specific immoveable property for the purpose ofsecuring payment of some amount of money. Elaborate in what different ways amortgage is created by highlighting their characteristics and mutual rights and liabilitiesof the parties in a precise manner?
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