* not completed

. Which one of the following statements is the correct definition of a mortgage?

A conveyance in which the mortgagor transfers her land to the mortgagee in return for the payment of money. correct incorrect

A conveyance in which the mortgagor transfers her land to the mortgagee in return for the payment of money but the mortgagor remains the legal owner of the land. correct incorrect

A conveyance in which the mortgagor confers to the lender certain rights over her land in order that the lender is able to secure repayment of loan money advanced; the lender being entitled to realise its debt at any time. correct incorrect

A conveyance in which the mortgagor confers to the lender certain rights over her land in order that the lender is able to secure repayment of loan money advanced; the lender being entitled to assert its rights only with an order of the court. correct incorrect

A conveyance in which the mortgagor confers to the lender certain rights over her land in order that the lender is able to secure repayment of loan money advanced. correct incorrect

* not completed

. As to the creation of legal mortgages, which one of the following statements is incorrect?

In registered land today, there are only two methods by which legal mortgages can be created: the demise and the registered charge. correct incorrect

In registered land today, there is only one method by which legal mortgages can be created: the registered charge. correct incorrect

Whether in unregistered or registered land, the creation of a charge by way of mortgage constitutes a conveyance under the LPA 1925 and must therefore be made in a deed. correct incorrect

In unregistered land, the creation of legal mortgages is governed by the provisions of the LPA 1925, in particular sections 85 and 87 which provide for mortgage by demise and by legal charge. correct incorrect

The grant of a legal mortgage over unregistered land (whether by way of demise or legal charge) will constitute a triggering event for compulsory first registration under the LRA 2002. correct incorrect

* not completed

. Which one of the following circumstances will not give rise to an equitable mortgage?

Mortgage of an equitable interest only correct incorrect

Under the doctrine of Walsh v Lonsdale (1882), where there is a failed attempt to create a legal mortgage correct incorrect

Where one legal co-owner forges the signature on a mortgage deed of other legal co-owners correct incorrect

Mortgages arising under the doctrine of proprietary estoppel correct incorrect

Where the mortgagor deposits the title deeds to unregistered land with the mortgagee as security for a loan correct incorrect

* not completed

. Which one of the following statements as to the enforceability of legal mortgages against third parties is incorrect?

In registered land, the grant of a legal mortgage is a 'registrable disposition' which must be completed by registration if it is to operate at law; its enforceability against third parties is then determined by s. 29 of the LRA 2002. correct incorrect

In unregistered land, the grant of a legal mortgage is a triggering event for compulsory first registration under the LRA 2002. correct incorrect

In unregistered land, if compulsory first registration is not completed, the mortgage can, at best, take effect as an equitable mortgage. correct incorrect

In registered land, a legal mortgage must be protected by entry of a notice on the Charges Register if it is to be enforceable against third parties. correct incorrect

* not completed

. Which one of the following statements as to the enforceability of equitable mortgages against third parties is incorrect?

In unregistered land, an equitable mortgage is registrable as a Class C(iii) land charge under the LCA 1972. correct incorrect

In unregistered land, if not registered as a Class C(iii) land charge, an equitable mortgage will be void as against purchasers for value. correct incorrect

In registered land, where no notice is entered, an equitable mortgage is not capable of amounting to an overriding interest under Sch 3, para 2. correct incorrect

In registered land, an equitable mortgage can be protected by the entry of a notice against the mortgaged registered title. correct incorrect

* not completed

. There must be no 'clogs or fetters' on a mortgagor's equitable right to redeem the mortgage. Which one of the following is not a factor the court will take into account when considering whether a term of the mortgage is oppressive or unconscionable and should therefore be struck down?

Whether the term was imposed in a morally reprehensible manner correct incorrect

Whether, in all the circumstances, the mortgagee's conscience is affected correct incorrect

Whether there is equality of arms between the parties correct incorrect

Whether the term in question was unreasonable or represented an unreasonable bargain correct incorrect

Whether the mortgagor could have refused to accept the deal/bargain correct incorrect

Whether the mortgagor received independent legal advice prior to the mortgage correct incorrect

* not completed

. After the decision in Royal Bank of Scotland plc v Etridge (No.2) (2002), which one of the following statements best describes the conduct expected of mortgage lenders?

To take reasonable steps to ensure the surety for a mortgage loan is aware that she must instruct an independent legal adviser. correct incorrect

To take reasonable steps to ensure that the lender protects itself by receiving a written confirmation from an independent legal adviser that the mortgage is valid. correct incorrect

To take reasonable steps to satisfy itself that the risks of the mortgage were explained to the surety. correct incorrect

To take reasonable steps to ensure the surety for a mortgage loan does not enter an unconscionable or disadvantageous bargain. correct incorrect

To take reasonable steps to actively investigate the existence of undue influence. correct incorrect

* not completed

. What endows the court with the power to postpone possession proceedings concerning dwelling houses where possession is sought by the mortgagee? Select one of the following.

The inherent jurisdiction of the court correct incorrect

The LPA 1925 correct incorrect

The Administration of Justice Act 1973 correct incorrect

The LRA 2002 correct incorrect

The Consumer Credit Act 2006 correct incorrect

The Administration of Justice Act 1970 correct incorrect

* not completed

. Which one of the following is not a requirement for the statutory power of sale to arise under section 101 of the LPA 1925?

The mortgage was made by deed correct incorrect

The mortgage contained no provision excluding the power of sale correct incorrect

The mortgagor is in breach of its obligations under the terms of the mortgage correct incorrect

The mortgage money has fallen due as the date of redemption has passed correct incorrect

* not completed

. Which one of the following is not a duty owed by a lender when selling mortgaged land?

A duty to act in good faith in the conduct of the sale correct incorrect

A duty to advertise and sell the property without delay correct incorrect

A duty to take reasonable care in the conduct of the sale correct incorrect

A duty to obtain a fair and proper price for the land correct incorrect