A mortgage is BEST defined as a legal document that:

Question

Quizplus · Accepted Answer

A mortgage is a legal document that pledges the borrower's property as collateral for the repayment of a loan. It does not create an obligation to repay the loan, but rather secures it with the property. It also does not convey ownership of the property to the purchaser, but rather establishes a lien on the property for the lender. A mortgage does not define a possessory interest in real estate but rather a security interest.

A Mortgage Is BEST Defined as a Legal Document That