QuickHelper

(10)

$20/per page/

About QuickHelper

Levels Tought:
Elementary,High School,College,University,PHD

Expertise:
Accounting,Applied Sciences See all
Accounting,Applied Sciences,Business & Finance,Chemistry,Engineering,Health & Medical Hide all
Teaching Since: May 2017
Last Sign in: 362 Weeks Ago, 1 Day Ago
Questions Answered: 20103
Tutorials Posted: 20155

Education

  • MBA, PHD
    Phoniex
    Jul-2007 - Jun-2012

Experience

  • Corportae Manager
    ChevronTexaco Corporation
    Feb-2009 - Nov-2016

Category > Law Posted 23 Sep 2017 My Price 8.00

Owen granted the bank a mortgage on his home as security for the loan and the mortgage was properly recorded.

Owen Monie obtained a loan from Home Banc to help pay for his tuition at Big University. Owen granted the bank a mortgage on his home as security for the loan and the mortgage was properly recorded. The loan agreement and mortgage were silent regarding Owen’s right to sell the house. During an inspection with his real estate agent, Owen discovered some of the piping in the house consisted of polybutylene, a type of plastic known for breaking. Three months prior to graduation, Owen sold the home to Cole Dusack. Since only a portion of the house contained the questionable piping and the cost to replace the entire system was estimated to be around $7,500, Owen did not disclose the presence of the polybutylene pipes. Cole did not expressly assume or agree to pay the loan Owen took out for his tuition and the bank did not expressly approve or disapprove of the sale, nor did it agree to release Owen from the liability of the loan. Seven months after the deal closed, a pipe broke causing over $10,000 in damages.

Was Owen entitled to sell the home even though it was subject to a mortgage?
Is Owen still liable for the loan?
Is Cole obligated to pay the loan?
What remedies does Cole have against Owen related to the sale of the house?
Does Cole or Owen have a cause of action against any other party?

Answers

QuickHelper
(10)
Status NEW Posted 23 Sep 2017 05:09 PM My Price 8.00

Hel-----------lo -----------Sir-----------/Ma-----------dam----------- T-----------han-----------k Y-----------ou -----------for----------- us-----------ing----------- ou-----------r w-----------ebs-----------ite----------- an-----------d a-----------cqu-----------isi-----------tio-----------n o-----------f m-----------y p-----------ost-----------ed -----------sol-----------uti-----------on.----------- Pl-----------eas-----------e p-----------ing----------- me----------- on----------- ch-----------at -----------I a-----------m o-----------nli-----------ne -----------or -----------inb-----------ox -----------me -----------a m-----------ess-----------age----------- I -----------wil-----------l

Not Rated(0)