Which of the following statements regarding non-cash items exchanged in a sale is correct?
a. The County Recorder must adjust the sales price of a prepay to reflect any value attributable to non-cash items exchanged in a sale.
b. If a seller assumes a second mortgage from a buyer, the current market value of those promissory notes must be added to the sales price.
c. If a buyer assumes tax liabilities as part of the sale, the Assessor must adjust the sales price of the property.
d. Other property may not be used to secure a construction loan or to secure a second mortgage.