Which of the following is a mortgagee right?

Prepare for the Nova Scotia Association of Realtors Exam. Study with flashcards and multiple choice questions, each question includes hints and explanations. Get ready for your exam!

Multiple Choice

Which of the following is a mortgagee right?

Explanation:
The mortgagee’s primary entitlement is to be repaid. A mortgage creates a secured debt in favor of the lender, so the lender’s main right is to receive the scheduled payments of principal and interest as agreed. If payments stop, the mortgagee can enforce the loan to recover what’s owed, typically through foreclosure or a power of sale to protect the security. The other options describe rights or remedies that belong to the borrower (such as the right to redeem or to quiet possession) or describe the outcome when the loan is paid (discharge of the mortgage), not ongoing rights of the lender.

The mortgagee’s primary entitlement is to be repaid. A mortgage creates a secured debt in favor of the lender, so the lender’s main right is to receive the scheduled payments of principal and interest as agreed. If payments stop, the mortgagee can enforce the loan to recover what’s owed, typically through foreclosure or a power of sale to protect the security. The other options describe rights or remedies that belong to the borrower (such as the right to redeem or to quiet possession) or describe the outcome when the loan is paid (discharge of the mortgage), not ongoing rights of the lender.

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