Crucial Exams

Multistate Bar Examination Practice Question

Which of the following best describes a purchase money mortgage?

  • A loan used to finance the purchase of real property, secured by the property being purchased.

  • A rental agreement with an option to purchase the property upon payment of the final installment.

  • A loan used to refinance an existing debt secured by real property.

  • A deed used to transfer full ownership of property in exchange for payment.

Multistate Bar Examination
Real Property
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