Finance
In Utah, which document does a borrower sign that pledges the property as collateral for a loan?
APromissory note
BDeed of trust✓ Correct
CWarranty deed
DBill of sale
Explanation
The deed of trust (trust deed) pledges the real property as collateral for the loan. The promissory note is the personal promise to repay the debt.
Related Utah Finance Questions
- The annual percentage rate (APR) on a mortgage loan is higher than the stated interest rate because it:
- Utah's homestead exemption protects a portion of a primary residence's equity from:
- Regulation Z (Truth in Lending Act) requires lenders to disclose:
- The secondary mortgage market in Utah and nationwide primarily:
- In Utah, seller concessions at closing are often used to:
- An FHA loan requires a minimum down payment of:
- A promissory note in a Utah real estate transaction:
- Under TRID (TILA-RESPA Integrated Disclosure) rules, within how many business days of application must lenders provide the Loan Estimate?
Practice More Utah Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Utah Quiz →