Escrow & Title
The Georgia Security Deed (also called a Deed to Secure Debt) differs from a mortgage because:
AIt transfers legal title to the lender as security for the loan✓ Correct
BIt does not require a promissory note
CThe borrower retains full legal title
DIt cannot be foreclosed
Explanation
In Georgia, a Security Deed (Deed to Secure Debt) transfers legal title to the lender as security for the loan. The borrower retains equitable title and possession. Upon payoff, title reverts to the borrower.
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