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gavmur [86]
3 years ago
7

In one state, a lender holds a lien on real property offered as collateral for a loan. The borrower retains both legal and equit

able title to real property. If the borrower defaults on the loan, the lender must go through formal foreclosure proceedings to recover the debt. This state can be BEST characterized as what kind of state?
Business
1 answer:
avanturin [10]3 years ago
7 0

Answer:

LIEN THEORY

Explanation:

Based on the scenario being described it can be said that this state is a lien theory state, in which the court is enlisted to order and oversee the foreclosure procedure. In such a state, the buyer/borrower holds the deed to the real estate property until the mortgage expires and promises to make the mortgage payments that were previously agreed upon in the financial agreement.

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2 years ago
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<h3>Further explanation </h3>

A constitution is fundamental principles set according to the nation or a state or an organization is acknowledged to be governed. Ratification is the process of approving the constitution . It is a principal's approval of an act of its agent that lacked the authority to bind the principal legally and it is where the constitution of a state is taken over the legislature for consideration through specially elected state conventions of the people

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<h3>Learn more</h3>
  1. Learn more about ratification brainly.com/question/3281819

<h3>Answer details</h3>

Grade:  9

Subject:  

Chapter: ratification

Keywords:  ratification

7 0
3 years ago
Read 2 more answers
PLEASE HELP WILL MARK AS BRAINLIEST
Anuta_ua [19.1K]

Answer:

true

Explanation:

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3 years ago
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