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MMLU / A farmer owned an olive grove. The farmer gavea friend a mortgage on the olive…

Problem

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question

A farmer owned an olive grove. The farmer gavea friend a mortgage on the olive grove to secure aloan from the friend to the farmer in the amountof 90,000.Thefarmerthengaveaco−workeramortgageontheolivegrovetosecurealoanfromtheco−workertothefarmerintheamountof90,000. The farmer then gave a co-workera mortgage on the olive grove to secure a loanfrom the co-worker to the farmer in the amount of120,000. The farmer then gave an investor a mortgage on the olive grove to secure a loan from the investor to the farmer in the amount of 110,000.Theco−workerthenrecords.Theinvestorthenrecords.Thereafter,thefriendrecords.Inaforeclosureproceedingwherethefriend,theco−worker,andtheinvestorwereparties,theolivegrovesoldfor110,000. The co-worker then records. The investor then records. Thereafter, the friend records. In a foreclosure proceeding where the friend, the co-worker, and the investor were parties, the olive grove sold for 220,000. The recording statute in this jurisdiction provided "any written instrument affecting title to land that is not recorded is void against a subsequent purchaser in good faith for valuable consideration, whose conveyance shall be first duly recorded. "If the olive grove sold for $220,000, what dollar amount, if any, should go to the investor?
Plain-text mathematical notation (without MathML)
A farmer owned an olive grove. The farmer gavea friend a mortgage on the olive grove to secure aloan from the friend to the farmer in the amountof 90,000.Thefarmerthengaveaco−workeramortgageontheolivegrovetosecurealoanfromtheco−workertothefarmerintheamountof120,000. The farmer then gave an investor a mortgage on the olive grove to secure a loan from the investor to the farmer in the amount of 110,000.Theco−workerthenrecords.Theinvestorthenrecords.Thereafter,thefriendrecords.Inaforeclosureproceedingwherethefriend,theco−worker,andtheinvestorwereparties,theolivegrovesoldfor220,000. The recording statute in this jurisdiction provided "any written instrument affecting title to land that is not recorded is void against a subsequent purchaser in good faith for valuable consideration, whose conveyance shall be first duly recorded. "If the olive grove sold for $220,000, what dollar amount, if any, should go to the investor?
Original LaTeX notation
A farmer owned an olive grove. The farmer gavea friend a mortgage on the olive grove to secure aloan from the friend to the farmer in the amountof $90,000. The farmer then gave a co-workera mortgage on the olive grove to secure a loanfrom the co-worker to the farmer in the amount of$120,000. The farmer then gave an investor a mortgage on the olive grove to secure a loan from the investor to the farmer in the amount of $110,000. The co-worker then records. The investor then records. Thereafter, the friend records. In a foreclosure proceeding where the friend, the co-worker, and the investor were parties, the olive grove sold for $220,000. The recording statute in this jurisdiction provided "any written instrument affecting title to land that is not recorded is void against a subsequent purchaser in good faith for valuable consideration, whose conveyance shall be first duly recorded. "If the olive grove sold for $220,000, what dollar amount, if any, should go to the investor?

choices

  1. $0. 00
  2. $90,000. 00
  3. $100,000. 00
  4. $110,000. 00

subject

professional_law

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Source and history

task_id
f35a8c6d-f9e9-5551-b35b-f7cc46bc6799
task_key
all--test--f35a8c6d-f9e9-5551-b35b-f7cc46bc6799
task_revision_id
1
config / split
all / test

Official source

initial import