What type of security instrument is used in Georgia to secure a residential mortgage loan?
Correct Answer
A) Security deed
Georgia uses security deeds rather than traditional mortgages or deeds of trust. The security deed conveys title to the lender as security for the debt, with title reconveyed to the borrower upon full repayment.
Why This Is the Correct Answer
Georgia uses security deeds rather than traditional mortgages or deeds of trust. The security deed conveys title to the lender as security for the debt, with title reconveyed to the borrower upon full repayment.
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