In a Mortgage, an "Exculpatory Clause" Typically Is Used To

question 29

Multiple Choice

In a mortgage, an "exculpatory clause" typically is used to:

• A) Exclude a portion of the property from the collateral securing the loan.
• B) Prevent the lender from having recourse to the borrower, other than taking the collateral property.
• C) Prevent the borrower from getting out of loan obligations by declaring bankruptcy.
• D) Exclude the lender from culpability in the event the property owner is sued for damages by a user of the property.

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