Asked by robin singh on Jun 16, 2024
Verified
A mortgage creates a security interest in real property.
Security Interest
A lien or legal claim on assets that have been offered as security to ensure the repayment of borrowed money.
Real Property
Land and anything permanently affixed to it, such as buildings and improvements; distinguished from personal property.
- Master the introductory principles of mortgage law, with a concentration on the legal positions and rights of mortgagors and mortgagees.
Verified Answer
DR
Doris RiveraJun 22, 2024
Final Answer :
True
Explanation :
A mortgage is a legal agreement that creates a security interest in real property, giving the lender the right to take possession of the property if the borrower fails to repay the loan according to the terms of the mortgage.
Learning Objectives
- Master the introductory principles of mortgage law, with a concentration on the legal positions and rights of mortgagors and mortgagees.