Finance
In a Rhode Island residential mortgage, the document that pledges real property as collateral for a loan is called a:
APromissory note
BMortgage deed✓ Correct
CDeed of trust
DWarranty deed
Explanation
In Rhode Island, the mortgage deed (also simply called a mortgage) is the instrument that pledges real property as collateral for a loan. The promissory note is the borrower's promise to repay; the mortgage deed secures that promise with the real property.
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