Multiple choice

Charges created against immovables in favour of the banker is called

  1. pledge

  2. hypothecation

  3. mortgage

  4. lien

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

A mortgage is a legal agreement that conveys the conditional right of ownership on an asset or property by its owner (the mortgagor) to a lender (the mortgagee) as security for a loan.