Finance
A release clause in an Indiana mortgage on multiple parcels allows the borrower to:
ARelease the mortgage entirely by paying a flat fee
BObtain the release of individual parcels from the mortgage lien upon payment of a specified portion of the debt✓ Correct
CTransfer the mortgage to a new property
DExtend the loan term
Explanation
A release clause (partial release) in a blanket mortgage allows the borrower to have individual parcels released from the lien as they are paid for, enabling the sale of individual lots without satisfying the entire mortgage.
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