Question

Smith mortgaged Parcel B to his bank with a consent under the Planning Act and then Smith conveyed Parcel B to Jones without consent. Is this a valid transaction?

1) Yes, it is a valid transaction.
2) No, it is not a valid transaction.
3)annot be determined.
4) Not enough information provided.

Answer 1

2) No, it is not a valid transaction.

Generally, transferring mortgaged property without the necessary consent under the relevant Planning Act can invalidate the transaction. However, the specific legal requirements and framework would need to be considered to determine the transaction's legality.

Step-by-step explanation:

If Smith mortgaged Parcel B to his bank with a consent under the Planning Act and then conveyed Parcel B to Jones without consent, the validity of the transaction depends on the specific requirements of the Planning Act and any other relevant real estate laws. According to most real property law and the common land use regulations, transferring property without the necessary consents or in violation of a mortgage agreement or planning consent can render the transaction invalid. Thus, in many jurisdictions, the answer would generally be 2) No, it is not a valid transaction.