Finance
In North Dakota, 'hypothecation' means a borrower:
AGives up possession of property as loan collateral
BPledges property as security for a loan without giving up possession✓ Correct
CTransfers property title to the lender
DAccepts a variable-rate mortgage
Explanation
Hypothecation is the pledging of real property as security for a debt without transferring possession or title to the lender. The borrower retains possession while the lender has a lien on the property.
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