Which document specifies that a property is being used as security in the event of non-payment of a debt?

The mortgage is the document that specifies that a property is being used as security in the event of non-payment of a debt. It serves as a legal agreement between the borrower and the lender, indicating that the lender has a claim against the property if the borrower fails to fulfill repayment obligations. By signing a mortgage, the borrower grants the lender a security interest in the property, ensuring that the lender can potentially recover the outstanding amount through foreclosure or other legal remedies if the borrower defaults on the loan.

A promissory note, while related, is a separate document that outlines the borrower's promise to repay the loan and details the terms of the loan itself, but it does not convey a security interest in the property. Foreclosure refers to the legal process that occurs when a borrower defaults, allowing the lender to reclaim the property; it is not a document that specifies security. The TIL (Truth in Lending) disclosure is a document that outlines the terms of a loan to ensure that borrowers are informed about the costs and terms, but it does not deal with the security interest in a property.