Escrow & Title
In Georgia, the security instrument used by lenders (instead of a traditional mortgage) is called a:
ATrust deed
BDeed to secure debt✓ Correct
CDeed of trust
DDeficiency deed
Explanation
Georgia lenders use a 'deed to secure debt' (also called a 'security deed') instead of a traditional mortgage. Title is conveyed to the lender as security, reverting to the borrower when the loan is repaid.
Related Georgia Escrow & Title Questions
- Georgia's transfer tax (real estate transfer tax) is calculated at a rate of:
- A general warranty deed in Georgia provides which of the following covenants?
- In Georgia, the documentary evidence of a title search is called:
- Owner's title insurance protects against:
- A 'FIRPTA withholding' at a Georgia closing is required when:
- A title commitment (binder) issued by a title company represents:
- In a Georgia real estate transaction, the transfer tax (intangible tax on the security deed) is paid by the:
- A 'deed of release' in Georgia is used to:
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