A purchaser of real estate gives one mortgage covering 5 different parcels of real estate. This is known as a?

The term that accurately describes a mortgage covering multiple parcels of real estate is a "blanket mortgage." This type of mortgage allows a borrower to secure financing for more than one piece of property under a single loan. This can be particularly advantageous for investors or developers looking to finance multiple properties without needing separate loans for each one, simplifying the financing process and potentially reducing transaction costs.

In a blanket mortgage, the loan is secured by all the parcels listed in the agreement, and if the borrower defaults, the lender can pursue foreclosure on all properties linked to the mortgage. This contrasts with other mortgage types, which might only pertain to a single property or a specific, defined set of items, as seen in different mortgage structures. Therefore, the correct identification of this type of mortgage clarifies its unique function in real estate financing.