Finance
A West Virginia buyer assumes the seller's existing mortgage. The buyer is now:
ASecondarily liable for the mortgage debt
BPrimarily liable, but the seller is also still liable unless released by the lender✓ Correct
CNot liable at all for the prior debt
DLiable only for the balance from the date of assumption
Explanation
When a buyer assumes an existing mortgage, the buyer becomes primarily liable for the debt. However, the original seller typically remains secondarily liable unless the lender issues a formal release (novation).
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