While comparing 'Notes and Mortgages', which one of the following statements is False about 'Notes' 1 You can borrow money only if you pledge something 2 The legal instrument is not recorded in the County Office Recording Office 3 It is more personal and mostly an 'I O U' to an individual 4 Mortgages use 'property' as a collateral

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While comparing 'Notes and Mortgages', which one of the following statements is False about 'Notes'? 1. You can borrow money only if you pledge something.

While comparing 'Notes and Mortgages', which one of the following statements is False about 'Notes'?

	1.	You can borrow money only if you pledge something.
	2.	The legal instrument is not recorded in the County Office/ Recording Office.
	3.	It is more personal and mostly an 'I.O.U' to an individual.
	4.	Mortgages use 'property' as a collateral.

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