Detailed Answer
(b) A purchaser of real estate takes title subject to any
mortgage he was aware of or any mortgage that was recorded
before the purchase. Ford, therefore, takes title to the warehouse
subject to Young’s mortgage, but free of Lang’s mortgage.
Therefore, answer (b) is correct and answer (a) is incorrect.
Answer (c) is incorrect because there is no such provision. Answer
(d) is incorrect because the recording statutes change the
first in time concept to encourage the recording of mortgages.