If the amount realized at a sheriff's sale as part of a mortgage foreclosure is more than the amount of the indebtedness and expenses, then the excess belongs to

A) the mortgagor.
B) the mortgagee.
C) the sheriff's office.
D) the county.

Answer: A) the mortgagor.

Business

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Which of the following actions by the holder causes an impairment of the right of recourse?

A) releasing an obligor party from liability B) withholding collateral that would benefit that party C) writing "canceled" on the face of the instrument D) destruction of the instrument with the intent of eliminating the obligation

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