Lien Theory Flashcards
1
Q
Is Florida a lien theory state
A
Yes
2
Q
Who retains title to the property?
A
Borrower
3
Q
Who is protected with the lien?
A
Lender
4
Q
Lien protects the the lender to protect-
A
Secure the payment of the mortgage debt
5
Q
If borrower defaults on the mortgage debt what will the lender do?
A
Foreclose to recover the money owed
6
Q
Mortgage theory is also called-
A
Title theory
7
Q
In some states, title to mortgaged property is conveyed to the lender through a _
A
Mortgage deed
8
Q
Once the debt is paid in full-
A
Borrower gets the title
9
Q
In lien theory states the _ retains the title to the property
A
Borrower
10
Q
A
