A real estate loan in which the borrower is not personally responsible for the repayment of the loan is an exculpated loan.

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An exculpated loan, also known as a non-recourse loan, is a type of real estate loan in which the borrower is not personally liable for the repayment of the loan. In the event of a default, the lender's only recourse is to seize the property securing the loan but cannot go after the borrower's personal assets.

A Real Estate Loan in Which the Borrower Is Not