Mortgage
Related Category: Legal Terms and Concepts
in law, device for protecting a creditor by giving him an interest in property of his debtor. In common law a mortgage was a conditional sale; i.e.
Mortgage: An interest given on a piece of land, in writing, to guarantee the payment of a debt or the execution of some action. It automatically becomes void when the debt is paid or the action is executed.
Mortgage at Legal Glossary What is it? A loan in which the borrower puts up the title to real estate as security (collateral) for a loan.
Mortgage
(n) Mortgage is the property or title to a property which has been pledged with a lender to secure the loan taken from such lender. The French word means 'dead pledge'. Law require registration of the Mortgage.
Mortgage (business term)
Open (finance term)
Personal credit institutions (SIC 6141) (industry)
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A mortgage loan with an interest rate that fluctuates in accordance with a designated market indicator -- such as the weekly average of one-year U.S. Treasury Bills -- over the life of the loan.
COLLATERALIZED MORTGAGE OBLIGATION - Specialized instrument designed to even-out the cash flow payments of mortgage-backed securities. CMOs are backed by pools of mortgages and are not riskless.
Mortgage or Deed of Trust
Written pledge of real property given by the mortgagor to secure a debt. Should be recorded in the County Recorders Office.
Mortgagee
The lender of money or the receiver of the mortgage document.
Mortgagee - He that takes or receives a mortgage.
Mortgagor - One who, having all or some part of title to property, by written instrument pledges that property for some particular purpose such as security for a debt.
WELCH MORTGAGE, Eng. law, contracts. A species of security which partakes of the nature of a mortgage, as there is a debt due, and an estate is given as a security for the repayment, ...
Chattel mortgage
When an interest is given on moveable property other than real property (in which case it is usually a "mortgage"), in writing, to guarantee the payment of a debt or the execution of some action.
Chattel Mortgage:
An interest that is given by one person in, say, a piece of property such as a piano to another person to secure a debt.
Mortgageable
Definition - adj
: susceptible or capable of being mortgaged <mineral rights are not ~ in this jurisdiction>
Pronunciation'mo'r-gi-j&-b&l ...
A mortgage, debenture or other security documentation, is likely to create charges over particular assets as security for borrowings or other indebtedness. There are essentially two types of charge, floating and fixed.
Where a mortgage lender (mortgagee) can apply to the High Court to force a borrower (mortgagor) to pay off their mortgage completely or have the lender seize and sell the property to in order to pay off the debt.
A puisne mortgage is a mortgage where the deeds of the property have not been deposited with the lender.
Punitive damages, or exemplary damages ...
Conventional Mortgage
Civil Causes of Action Claim and Delivery
Conversion ...
a mortgage contract in which a ship and/or its freight is pledged as security for a loan for equipment, repair, or use of a vessel. The contract is generally called a "bottomry bond.
Chattel Mortgage - Security for a debt or obligation in such form that upon failure of the mortgagor to comply with the terms of the contract, the property may pass to the mortgagee (creditor).
In Falconbridge on Mortgages (Rayner and McLaren, Toronto: Canada Law Book, 1977, p. 447), foreclosure was described as follows: ...
Maritime liens and mortgages
Banks which loan money to purchase ships, vendors who supply ships with necessaries like fuel and stores, seamen who are due wages, and many others have a lien against the ship to guarantee payment.
See adjustable rate mortgage.
arraignment
A court appearance in which the defendant is formally charged with a crime and asked to respond by pleading guilty, not guilty or nolo contendere.
Often the property itself remains in the hands of the borrower, and the lender holds only a paper interest (lien, mortgage, etc.) in the collateral that is enforceable if the borrower defaults. Sever To cut into parts.
In some jurisdictions where a mortgage transfers title to the lender until the mortgage is paid off, the "buying back" of the property is known as redemption.
Generally, this is what happens when someone does not pay their mortgage.
The right of presentation may be exercised by its owner whether he be an infant, executors, trustees, coparceners (who, if they cannot agree, present in turn in order of age) or mortgagee (who must present the nominee of the mortgagor), ...
Many legal rules, in countries that originated with English law, have equity-based law such as the law of trusts and mortgages.
A conveyance entirely executed; not conditional, as in the case of a mortgage. Conveyances at common law. Some of these may be called original or primary, those by means whereof the benefit or estate is created or first arises.
Foreclosure - A court proceeding upon default in a mortgage to vest title in the mortgagee.
Forfeiture - A cancellation. A legal action whereby a contract purchaser following default loses all his interest in the property.
Foreclosure - A court proceeding upon default in a mortgage to vest title in the mortgagee.
For legal advise regarding Foreclosure, you can contact our legal staff via phone (800) 341-2684 or email myweblawyer@aol.com .
A signature bond secured by mortgage or real property.
Self defense
Claim that an act otherwise criminal was legally justifiable because it was necessary to protect a person or property from the threat or action of another.
ACCELERATION CLAUSE In a mortgage, note, bond, etc., that requires the debtor to pay all or part of the balance sooner than the date specified for payment upon occurrence of event or circumstance described in the contract.
VADIUM MORTUUM,
contracts. A mortgage or dead-pledge; it is a security given by the borrower of a sum of money, by which he grants to the lender an... more ...
Liabilities: The amounts owed to another by any person, family, or business (i.e. a mortgage).
Living trust: A trust established during the lifetime of the grantor.
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z ...
Encumbered: When a lien, mortgage or other restraint is placed against a property.
Property Bond - A signature bond secured by mortgage or real property.
Pro Se - In one's own behalf, commonly used to refer to a party representing himself or herself in a court action, instead of being represented by an attorney.
Encumber: To place a claim, lien, charge or liability on property (e.g., mortgage, judgment lien, mechanic's lien, security interest).
foreclosure A proceeding that bars or extinguishes a mortgagor's right to redeem a mortgaged estate; often used in a general sense to refer to the procedure by which a lender takes possession of property given as security by the borrower.
Satisfaction
A document evidencing release or discharge of an obligation such as a mortgage.
Sealing of Records
The making of records unavailable to the public except by court order.
Term: Satisfaction
Definition: A document evidencing release or discharge of an obligation such as a mortgage.
Term: Sealing Of Records
Definition: The making of records unavailable to the public except by court order.
lien - A claim against property for payment of a debt. Common types of liens include the mechanic's lien, the judgment lien, and the mortgage lien.
lis pendens - A pending suit.
litigant - A party to a lawsuit; one engaged in litigation.
foreclosure - A termination of all rights of the mortgagor or his grantee in the property covered by the mortgage.
LIEN: A claim against someone's property. A lien is instituted in order to secure payment from the property owner in the event that the property is sold. A mortgage is a common lien.
 See also: Law, State, Property, Person, Information
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