Jerry Wants to Purchase a Flat

Jerry wants to purchase a flat.So he borrows $50,000 from XYZ bank.He signs a note for $50,000 and gives the bank a $50,000 mortgage on the flat as security for his repayment of loan.Within a year and a half,Jerry repays the entire loan.After repayment of the loan,which of the following rights does Jerry have against XYZ bank?

A) Right to foreclosure
B) Right to reimbursement
C) Right of subrogation
D) Right of redemption

Correct Answer:

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