Betty is beneficiary of a $15,000 deed of trust on a single-family home located in Long Beach, California. Trustor Milo made $2,000 in payments, then defaulted. At a trustee's sale, the property sold for $10,000, resulting in a $3,000 deficiency. In California, a deficiency judgment cannot be obtained:
A: If the security is a purchase-money trust deed;
B: If remedy of trustee's sale is used;
C: If fair market value of the property exceeds the amount due on the trust deed;
D: In any of the above situations.
Answer: D: In any of the above situations.
Business
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