FinancingGeneralEASY
Alabama uses which security instrument?
Correct Answer
B) Mortgages
Alabama primarily uses mortgages as the security instrument.
Answer Options
A
Deed of trust onlyB
MortgagesC
Both mortgages and deeds of trustD
Land contracts onlyVideo Explanation2 min
Audio Lesson2 min
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Related Topics & Key Terms
Related Topics:
foreclosure-processesreal-estate-financingstate-specific-real-estate-laws
Key Terms:
mortgagesecurity instrumentAlabama foreclosurepower of salelien theory
Related Concepts
Foreclosure is the legal process by which a lender takes possession of a property when a borrower fails to make mortgage payments. It allows the lender to sell the property to recover the outstanding debt.
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