Final answer:
A state in which a mortgage conveys title to the lender is known as a foreclosure.
Step-by-step explanation:
A state in which a mortgage conveys title to the lender is known as a foreclosure.
In a foreclosure, the lender becomes the legal owner of the property due to the borrower's failure to repay the loan. This typically occurs when the borrower defaults on the mortgage payments, and the lender seeks to recover their investment by selling the property.
Foreclosures can have significant financial and legal implications for both the borrower and the lender, and may involve court proceedings to facilitate the transfer of title from the borrower to the lender.