Which of the following best describes a legal title in a hypothecation clause?

A hypothecation clause refers to the borrowing arrangement where the borrower pledges an asset as collateral for a loan while retaining ownership. This clause allows the lender to secure their interest in the asset during the repayment period. The key point is that even though the borrower maintains ownership, the lender has rights to the property if the borrower defaults.

In this context, the legal title being "secured by the lender during repayment" accurately captures the essence of hypothecation. The lender holds a legal interest in the property put up as collateral, providing them the ability to take action in case of non-payment. This provides security for the lender while still allowing the borrower to use the asset.

Understanding this concept is essential, as it directly relates to how real estate financing and borrowing operate within property law.