Question

What does it mean when the mortgagor covenants that the land is held in fee simple and owned with good title?

A. The land is subject to limitations on ownership.
B. The land is owned with poor title.
C. The land has the most rights and fewest limitations to ownership.
D. The land has multiple owners.

Answer 1

When the mortgagor covenants that the land is held in fee simple and owned with good title, it means that the land has the most rights and fewest limitations to ownership.

Step-by-step explanation:

When the mortgagor covenants that the land is held in fee simple and owned with good title, it means that the land has the most rights and fewest limitations to ownership. This means that the owner has full ownership rights and can freely use, sell, or transfer the property without any restrictions. It also means that the owner has clear and undisputed ownership of the land, without any claims or liens from others.