Finance
In Mississippi, the most common instrument used to secure a real estate loan is a:
AMortgage
BDeed of trust✓ Correct
CLand contract
DPromissory note alone
Explanation
Mississippi is a deed-of-trust state. A deed of trust involves three parties—borrower (trustor), lender (beneficiary), and a trustee—and allows non-judicial foreclosure, which is faster than judicial mortgage foreclosure.
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