6. Howard purchased from Stan a lot with a small house. Before the time of purchase, Howard got a mortgage to borrow $350,000.00 from Finance Company and Finance Company validly recorded the mortgage. One year before Howard purchased the lot, Bob had placed a lien on the property in the amount of $10,000.00 when Stan owned the lot and validly recorded the lien in the chain of title. Before purchasing the lot, Howard had agreed with Stan to take the lot subject to Bob’s lien. Howard fell behind in the payments on his mortgage to Finance Company and Finance Company decided to foreclose. The outstanding loan balance that Howard owes to the Finance Company is $300,000.00. At a valid, court-supervised foreclosure sale, the property sold for $350,000.00. Sale expenses, court costs and attorney fees were $50,000. If the Finance Company can apply proceeds from the foreclosure sale fully to the outstanding loan balance of $300,000 and Bob receives nothing for his lien on the lot, which out of the following statements provides the best explanation for such an outcome?

33.       Osmond, the owner of Goldacre in fee simple, conveys Goldacre in a valid deed using the following language: “I grant Goldacre to Emma for life, then to Bethany so long as Goldacre is being used as a farm.” Osmond also creates a valid will with the following language: “I give all my remaining interests to Cornelius.” Assume in the relevant jurisdiction that the common law Rule Against Perpetuities applies to conveyances and wills and that the doctrine of destructibility of contingent remainders is abolished. What interest or estate, if any, does Cornelius have upon Osmond’s death?

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