Finance
A mortgage in Vermont creates which type of interest in the property for the lender?
AFee simple ownership until the loan is repaid
BA lien on the property as security for the debt✓ Correct
CA trust interest managed by a neutral trustee
DA leasehold interest for the loan term
Explanation
Vermont is a lien theory state where a mortgage gives the lender a lien on the property as security for the debt. The borrower retains title and possession. This differs from title theory states where the lender holds title.
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