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Which of the following best describes hypothecation? The property belongs to the lender until the loan is paid in full. The property is pledged as
Which of the following best describes hypothecation?
The property belongs to the lender until the loan is paid in full.
The property is pledged as collateral for the loan if the buyer defaults.
The mortgage is evidence of the debt.
The promissory note is the collateral for the loan.
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