Real and Personal Property Can Be Used to Secure a Loan

question 62

True/False

Real and personal property can be used to secure a loan.

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Definitions:

Banks

Financial institutions licensed to receive deposits and make loans, offering various other financial services such as wealth management, currency exchange, and safe deposit boxes.

Insurance Companies

Organizations that provide financial coverage for losses in exchange for premiums.

Return-of-Service Form

A document that is used to certify the delivery of legal documents to a party involved in court proceedings.

Affidavit

A written statement made under oath, used as evidence in court.