Finance
In North Dakota, which type of mortgage gives the lender a security interest in the property, while the borrower holds title?
ADeed of trust
BMortgage (lien theory)✓ Correct
CLand contract
DAssignment of rents
Explanation
Under lien theory (used in North Dakota along with deed of trust arrangements), the borrower holds title to the property and the lender holds a lien (mortgage) as security. In title theory states, the lender holds title.
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