Questions: Which of the following statements is true? Select one: a. A mortgage document contains no covenants or promises on the part of the borrower. b. The priority of a mortgage is determined by the date on which it was executed. c. A deed of trust is typically conveyed by the trustor to the beneficiary. d. A buyer does not have to be a veteran to assume a VA loan.

The answer is D: A buyer does not have to be a veteran to assume a VA loan.

Explanation for each option:

a. A mortgage document contains no covenants or promises on the part of the borrower.

• This statement is incorrect. A mortgage document typically includes covenants or promises by the borrower, such as the promise to repay the loan, maintain insurance on the property, and pay property taxes.

b. The priority of a mortgage is determined by the date on which it was executed.

• This statement is incorrect. The priority of a mortgage is generally determined by the date it is recorded, not the date it was executed. Recording establishes the mortgage's priority over other claims.

c. A deed of trust is typically conveyed by the trustor to the beneficiary.

• This statement is incorrect. In a deed of trust, the trustor (borrower) conveys the property to a trustee, not directly to the beneficiary (lender). The trustee holds the title as security for the loan.

d. A buyer does not have to be a veteran to assume a VA loan.

• This statement is correct. While VA loans are initially available to veterans, they can be assumed by non-veterans, provided they meet the lender's credit and income requirements and agree to the terms of the loan.