A long-term note secured by land or buildings that serve as collateral,is referred to as a:

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A mortgage is specifically defined as a long-term loan that is secured by a property or real estate asset. The property or land serves as collateral for the loan, and the lender typically has the right to foreclose on the property if the borrower defaults on the loan. Debentures are a different type of borrowing instrument that are not secured by collateral, and property dividends and subordinated notes are not related to this type of loan.

A Long-Term Note Secured by Land or Buildings That Serve