Mortgage Liens: Definition & Overview


Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

States where mortgages are used are ____ states, while states that use deeds of trust are ____ states.

Create Your Account To Take This Quiz

As a member, you'll also get unlimited access to over 79,000 lessons in math, English, science, history, and more. Plus, get practice tests, quizzes, and personalized coaching to help you succeed.

Try it risk-free
Try it risk-free for 30 days. Cancel anytime
Already registered? Log in here for access

1. A borrower signs a ____ to evidence a loan and executes a ____ to provide the lender a lien in the real estate being purchased.

2. William has defaulted on his home loan. First National Bank has a mortgage on William's property securing the loan. What is the bank's likely course of action?

Create your account to access this entire worksheet
A Premium account gives you access to all lesson, practice exams, quizzes & worksheets
Access to all video lessons
Quizzes, practice exams & worksheets
Certificate of Completion
Access to instructors
Create an account to get started Create Account

About This Quiz & Worksheet

This quiz and corresponding worksheet will check your understanding of mortgage liens. Topics discussed in the quiz include the documents signed during a loan when real estate is being purchased and a bank's likely course of action when someone defaults on their home loan.

Quiz & Worksheet Goals

This quiz will test you on the following topics:

  • Which states use mortgages and which states use deeds of trust
  • What requires a mortgage to be signed in writing by the borrower in order to be enforceable
  • Party responsible for extending a mortgage

Skills Practiced

  • Reading comprehension - ensure that you draw the most important information given about mortgage liens
  • Information recall - access the knowledge you've gained regarding mortgage practices and regulations
  • Knowledge application - use your knowledge to answer questions about how a bank would likely respond to a default on a home loan

Additional Learning

If you would like to learn more about this topic, review the lesson called Mortgage Liens: Definition & Overview. This lesson covers the following objectives:

  • Learn the differences between a mortgage, mortgagee, and a mortgagor
  • Discuss and review the recording and priority process
  • Define the phrase 'satisfaction of mortgage'