Rea380 exam 4 - Study guides, Class notes & Summaries
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REA380 - Exam 4|61 Questions with 100% Correct Answers | Verified | Latest Update
- Exam (elaborations) • 10 pages • 2023
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What is a Secured Loan? - ️️Loan that has an asset pledged as collateral to ensure that the lender is likely to get payed if the borrower cannot pay. Define Hypothecation - ️️Pledging the property as collateral if the borrower can not pay back the lender. Basically its when the borrower agrees to the secured loan requirements and consequences. What is Title Theory - ️️The mortgagee (lender) is entitled to the possession of the mortgaged property upon default, ownership is held ...
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