Finance
In Arizona, a 'note' (promissory note) in real estate financing is:
AThe same document as the deed of trust
BThe evidence of the debt—the borrower's personal promise to repay—separate from the security instrument✓ Correct
CA title insurance document
DThe lender's underwriting decision
Explanation
The promissory note is the borrower's written promise to repay the debt under specified terms (amount, rate, term). The deed of trust is the separate security instrument pledging the property as collateral. Both are required for a secured real estate loan.
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