Finance
In Montana, the 'note' in a mortgage transaction is the:
ADocument that conveys title to the lender
BWritten promise to repay the debt, specifying loan amount, interest rate, payment schedule, and terms✓ Correct
CDocument that creates the lien on the property
DThe closing disclosure provided by the lender
Explanation
The promissory note is the borrower's written promise to repay the debt. It specifies the loan amount, interest rate, repayment schedule, and terms.
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