If a lender is to repossess or bring about the sale of a property if the borrower defaults on the mortgage loan,the lender is said to have a ________ in the real estate.

Question

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A secured interest is a legal claim that allows a lender to seize or sell a property if the borrower defaults on the loan. This is commonly used in mortgage loans, where the property serves as collateral for the loan. A freehold interest is a type of ownership in which the owner has ownership rights for an indefinite period of time, while a lease interest gives the owner the right to use the property for a limited time under certain conditions. A quitclaim is a legal document that transfers any interest or claim that a person may have in a property to another person, but it does not guarantee that the title is clear or that the transfer is valid.

If a Lender Is to Repossess or Bring About the Sale