Final answer:
When a note and security instruments are combined in a single document, it is referred to as a single instrument transaction or monoline instrument, which simplifies the transaction.
Step-by-step explanation:
When the note and security instruments are combined into one document, it is typically referred to as a single instrument transaction or a monoline instrument. In real estate financing, such a document often consolidates the traditional promissory note, which evidences the debt, with the security instrument, usually a mortgage or deed of trust, which secures the debt with a lien on the property. The use of a single instrument can simplify the transaction and make it easier to record and track. However, the legality and practicality of combining these traditionally separate documents can vary depending on jurisdiction and specific circumstances.