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When Real Estate Itself Is Used to Secure a Debt

question 372

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When real estate itself is used to secure a debt obligation it is evidenced by a(n) :


Definitions:

Hula Hoop

A large hoop that can be twirled around the waist, limbs, or neck for sport or entertainment.

Rebate

A return of part of the original payment for some service or merchandise, serving as a discount or reduction after the purchase.

Void Contract

refers to an agreement with no legal effect from the beginning due to an illegal purpose or violation of a mandatory statute.

Voidable Contract

A legal agreement that is valid and enforceable on its face, but can be declared void by one or more of the parties for certain legal reasons.

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