Question: The primary difference between mortgage and security deed is Mortgage specifies the collateral property and security deed transfers the title. Secunty deed creates the debt
The primary difference between mortgage and security deed is
Mortgage specifies the collateral property and security deed transfers the title.
Secunty deed creates the debt obligation and mortgage specifies the coltsterst for the debt.
Security deed assures the quality of the title and mortgage specifies the purchase terms and conditions.
Security deed can be foreclosed without going to court but mortgage must be foreclosed by the court.
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