West Virginia Mortgage Law Practice Test 2025 - Free Mortgage Law Practice Questions and Study Guide

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What must be included in a mortgage document under West Virginia law?

A witness signature and mortgage insurance details

The legal description of the property and names of parties involved

A mortgage document in West Virginia must include the legal description of the property and the names of the parties involved. The legal description is crucial as it precisely identifies the property that is being mortgaged, ensuring that there is no ambiguity about the real estate being secured by the loan. This description typically includes boundaries, lot numbers, and other property identifiers as recognized in legal terms.

Additionally, including the names of both the borrower and the lender in the mortgage document is essential for establishing the contractual relationship between the parties. This identification ensures that the obligations and rights under the mortgage are clearly assigned. The other options, while they may contain relevant information for various circumstances, are not mandatory inclusions in a mortgage document under West Virginia law.

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A financial history of the borrower

The appraisal value of the property

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