Fred and Harry are brothers. Harry lives in Chatsworth. Fred
purchases a house in the Northridge and obtains a first trust deed
loan of 90% of the purchase price through Chase Bank as the sole
owner. Fred lives in the house for 12 months and then decides he no
longer wants to live in Northridge ; Fred then Quitclaims the house
to his brother Harry. What will Chase Bank most likely do ?
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