In one state, a mortgagee holds legal title to real property offered as collateral for a loan, and the mortgagor retains the rig

Question

3 years ago

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In one state, a mortgagee holds legal title to real property offered as collateral for a loan, and the mortgagor retains the rig

hts of possession and use. If the borrower defaults, the lender is entitled to immediate possession and rents. This state can be BEST characterized as what kind of state

Business

1 answer:

True [87] · Answer 1 · 2022-04-05T03:32:42+03:00

Answer:

Lein Theory.

Explanation:

Lien theory refers to the theory in which the buyer stops the property deed at the time of the mortgage. Also the buyer promised to pay all the payments so that the mortgage could become a lien on a property but at the same time the title would remain with the buyer but if all the payments are paid so the lien could be removed

Therefore in the given situation, it represents the lien theory