Alabama Real Estate Practice Exam 2026 - Free Real Estate Practice Questions and Study Guide

In a strict foreclosure, the lender becomes entitled to immediate ownership of the property. This means that the borrower forfeits all rights to the property and the lender becomes the legal owner. A is incorrect as yearly interest payments would still need to be made if the borrower is still occupying the property. C is incorrect as a lien against the borrower's salary would not give the lender full ownership of the property. D is incorrect as additional collateral from the borrower would not necessarily give the lender full ownership of the property.