Chapter 1-23 Answers are at the End of Each Chapter Chapter 1 Student name: 1) If a lender is to repossess or bring about the sale of a property if the borrower defaults on the mortgage loan, the lender is said to have a in the real estate. A) freehold interest B) lease interest C) secured interest D) quitclaim 2) A(n) estate represents the most complete form of ownership of real estate; the owner is free to divide it up into lesser estates and sell, lease, or borrow against them as he or she wishes. A) fee simple B) freehold C) leasehold D) life