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4 Cards in this Set
- Front
- Back
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Purpose of note
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Acknowledge debt and personal promise to pay, terms of agree, evidence of a personal debt, debt instrument, also known as promissory note or bond, IOU
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Mortgage
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Pledges property as collateral for loans, security instrument
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Parties to mortgage
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Mortgagor borrower; mortgagee lender
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Requirements of valid mortgafe
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Names of parties, words of conveyance, legal description, consideration, in writing, signed by mortgagor, delivered
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