How are mortgages and deeds of trust related to one another?
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How are mortgages and deeds related to one another?
A. They are two different methods to give a lender a security interest in real property of the debtor
B. Mortgages are used for real property, and deeds of trust are used for personal property
C. Mortgages are used to create a security agreement covering residential real property, and deeds of trust are used in connection with commercial real property
D. They are two names for the same instrument, and thus can be used interchangeably
E. They are two distinct aspects of a security agreement covering real property, both which must be present for the security interest to be valid
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Solution Summary
This solution responds to one multiple choice question: How are mortgages and deeds of trust related to one another? It ALSO explains why the best answer is the best choice.
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Best Answer: A. They are two different methods to give a lender a security interest in real property of the debtor.
Why?
By definition, this is the best answer.
Mortgage is defined as a lien or claim against real property given by the buyer to the lender as security for money borrowed. Under government-insured or loan-guarantee provisions, the payments may include escrow amounts ...
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