Which of the following is an interest in real property given to a lender as security for the repayment of a loan?
A) lease
B) mortgage
C) life estate
D) easement

Question

Quizplus · Accepted Answer

A mortgage is a legal agreement between a borrower and a lender, in which the borrower pledges real property (such as a home) as collateral for a loan. This interest in the property is given to the lender as security for repayment of the loan. A lease is the transfer of the right to use property for a specified period of time, a life estate is an interest in real property that lasts for the life of the owner or for the life of another person, and an easement is the right to use someone else's land for a specific purpose without owning it.

Which of the Following Is an Interest in Real Property