A lender lends money to a homeowner and takes legal title to the property as collateral during the payoff period. they are in a?
Title theory state
In the title theory state, the borrower doesn't hold the title to the property during the credit term. The vendors gives the purchaser a deed to the property, yet when the borrower signs the home loan for credit, the borrower gives title back to the home loan holder i.e. moneylender.
Lender is an individual who makes reserves accessible to an individual or business with the assumptions that the assets will be reimbursed and will incorporated in the installments of any interest or expenses and may happen in increases or as a single amount.
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