Property Ownership
In Washington, a 'blanket mortgage' covers:
AOnly the main dwelling on a property
BMultiple parcels of real property under a single mortgage lien✓ Correct
CAll personal property within a home
DAll properties owned by a single borrower
Explanation
A blanket mortgage is a single mortgage that covers multiple parcels of real property as collateral. It is often used by developers who want to finance multiple lots under one loan, with a partial release clause allowing individual parcels to be sold free of the lien when a specified amount is paid.
Related Washington Property Ownership Questions
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