Property Ownership
A 'naked title' holder (as in a Georgia Security Deed) has:
AFull ownership rights including possession
BLegal title without the right of possession or use✓ Correct
CNo rights in the property at all
DThe right to receive all rents
Explanation
Under Georgia's Security Deed structure, the lender holds 'naked' legal title — the title as security but without the right to possess or use the property. The borrower retains equitable title and right of possession.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Deed of TrustA security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
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