Ruby bought a house for $300,000. To help finance the purchase, she borrowed (1) $100,000 from Wells Fargo secured by a mortgage on the home and (2) $150,000 from Guillaume secured by a mortgage on the home. Wells Fargo recorded its mortgage, but Guillaume did not do so. Ruby later sold the house to Tam, who recorded his deed. As part of the deal, Tam agreed to pay Ruby’s remaining debt to Wells Fargo, which he did. Tam did not know about Guillaume’s mortgage when he purchased the house. A year later, Tam entered into a contract to sell the house to Vince; the contract contained no provision about the quality of title that Tam would deliver. Vince recently learned that Guillaume claims to hold a mortgage on the house. Is Vince obligated to purchase the house?
Select one:a. No, because of Guillaume’s mortgage.b. No, because of Wells Fargo’s mortgage.c. Yes, Vince is obligated to purchase because there was no contract provision regarding the quality of title Tam would deliver.d. Yes, because Guillaume did not record.
NO EXPLANATION NEEDED….I AM RUNNING OUT OF TIME.
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