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Harry borrowed $175,000 from Judith, giving her a note for that amount and a mortgage on...

Harry borrowed $175,000 from Judith, giving her a note for that amount and a mortgage on his condo. Judith did not record the mortgage. After Harry defaulted on his payments, Judith began foreclosure proceedings. Harry argued that the mortgage was invalid because Judith had failed to record it. Judith counteragues that because a mortgage is not an interest in real estate, recording is not necessary. Who is correct? Explain.

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Answer #1

Judith is correct, the reason provided below:

  1. A mortgage in real estate is a security interest created by a deal regarding the legal title to a lender using mortgage note terms.
  2. Mortgages are recorded only for the purpose of resolving disputes by checking the date of recordings and this documents does not establishes who owns the property.
  3. A mortgage generally creates a liel on the title.
  4. Hence Judith can start with a fore closure proceedings with the help of judicial acts under mortgage law.

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