In a legal mortgage, what document is commonly involved?

In the context of a legal mortgage, the title deed is a critical document as it serves as evidence of ownership of the property being mortgaged. When a mortgage is created, the title deed reflects the transfer of the property’s title to the lender as security for the loan. If the borrower defaults on the loan, the lender can take ownership of the property through the foreclosure process.

While the other documents mentioned, such as a lease agreement, loan application, and promissory note, play essential roles in the mortgage process, they do not constitute the formal legal aspect of the mortgage's execution in the same way the title deed does. The lease agreement pertains to rental situations, the loan application is used to assess eligibility for a loan, and the promissory note outlines the borrower's obligation to repay the loan. The title deed, however, directly ties to the legal aspects of property ownership in relation to the mortgage.