When Financing for a Property Purchase Is Needed, Financing Is

question 56

True/False

When financing for a property purchase is needed, financing is often obtained by going to a financial institution and obtaining a loan to pay for the property in exchange for which the lender receives a security interest in the property called a title.

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Definitions:

Security Interest

A legal claim or right on assets granted to a creditor or a lender, to secure the repayment of a debt.

Automobile

A road vehicle, typically with four wheels, powered by an internal combustion engine or electric motor, used for transporting passengers.

Trademark

A symbol, word, or phrase legally registered or established by use as representing a company or product, offering protection against its use by others.

Copyright

The protection of the expression of a creative work; that is, protection of the fixed form that expresses the ideas.