👉 An impawn, also known as a "landowner's mortgage," is a loan that is secured by real estate. The borrower pays back the lender based on the value of the property at the time of the loan, and the lender retains ownership of the property until the debt is paid off. In summary, an impawn is a type of loan where the borrower borrows money from a lender to purchase or develop real estate, and the lender retains ownership of the property for a specified period.
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