George, Cathy made the inquiry on my behalf. So that you have the full picture - 1. The Title has 4000 equal parts or shares. 2. A owns 3194 of such shares unencumbered. 3. B owns 403 of such shares and are subject to two Mortgages, the Mortgagee under both Mortgages is A. 4. C owns 403 of such shares and are subject to two Mortgages, the Mortgagee under both Mortgages is A. 5. A has sold the whole of the interest in the Title as to 3194 shares in his own right and as to the remaining 806 shares as the Second Mortgagee thereof. 6. The First Mortgage will be discharged at Settlement by A. Does the foregoing alter your advice? John.
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