A conveyance of a interest in land as security for a debt, with the condition that if the debt is repaid the conveyance becomes void is called

Question

Quizplus · Accepted Answer

This is the definition of a mortgage. It involves conveying an interest in land as security for a debt, with the condition that if the debt is repaid, the conveyance becomes void. A mortgagee is the lender, while a mortgagor is the borrower. A pledge is a similar concept but typically involves personal property rather than real estate. A security can refer to a variety of financial instruments or investments.

A Conveyance of a Interest in Land as Security for a Debt