Also referred to as a mortgage loan, is used by purchasers of real property to raise capital for the purchase, or by existing owners to raise funds for any purpose while putting a lien on the property being mortgaged. The loan is secured on the borrower’s property, putting in place a legal mechanism which will enable the lender to take possession and sell the secured property to pay off the loan in the event that the borrower defaults on the loan or otherwise fails to abide by its terms.

A person who is not a qualified or licensed lawyer but has some knowledge that enables such person to assist lawyers in a number of tasks. A paralegal usually acts as an enhancement of a lawyer performing specifically delegated legal work for which a lawyer is ultimately responsible. In order to become a paralegal, it is generally necessary to go through a training and/or take some classes in law. In most jurisdictions, paralegals are not allowed to provide legal services directly to the public on their own and must work under an attorney or law firm.