Finance
In Kentucky, a 'note' in a mortgage transaction is the:
AProperty deed
BPromissory note representing the borrower's personal promise to repay the loan✓ Correct
CTitle insurance policy
DLoan commitment letter
Explanation
The promissory note is the borrower's written, legally binding promise to repay the loan. The mortgage (or deed of trust in other states) is the separate document that pledges the property as security.
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