Property Ownership
Which type of property interest is created when a bank holds a lien on a South Carolina property due to an unpaid mortgage?
AA leasehold interest
BAn encumbrance (specific lien) on the property✓ Correct
CA reversionary interest
DA fee simple interest
Explanation
A mortgage or deed of trust creates a specific lien on the property as security for the debt. A lien is an encumbrance that can affect the owner's ability to sell or refinance the property.
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