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A legal mortgage is a security interest granted to the lender by the owner of property as a condition of the loan. A note details the specifics of the money being loaned to the borrower. The mortgage refers to a security interest which the borrower grants the lender. The lender takes the security interest so that if the borrower defaults on the loan, the lender can seize the underlying asset (the real property, or home).
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What are the legal rights of a cosigner on a mortgage?
legal rights of cosigner on mortgage
Why do banks prefer legal mortgage to equitable mortgage?
Equitable mortgages are legal.
What is legal mortgage?
The legal mortgage in land registry transfers the estate or interest in land or other property for securing the repayment of debt.Since the legal title can only be transferred once by the current owner(mortgagor) to a mortgagee,it follows that only the first mortgage can hold this distinct status.A legal mortgage is therefore a document in which the direct conveyance of title is involved subject to the repayment of a debt.
What is a puisne mortgage?
A legal mortgage of unregistered land in which the mortgagee does not keep the title deeds of the land as security.
Is it legal to transfer your mortgage to your family member?
It depends, and if ever it is possible the family member that you would transfer your mortgage to, would be liable for the repayment of the debt of your mortgage.
What are the legal rights of a cosigner on a mortgage?
legal rights of cosigner on mortgage
Why do banks prefer legal mortgage to equitable mortgage?
Equitable mortgages are legal.
What is the Legal framework for mortgage in Nigeria?
what is the legal frame work for mortgage of land in nigeria
What is legal mortgage?
The legal mortgage in land registry transfers the estate or interest in land or other property for securing the repayment of debt.Since the legal title can only be transferred once by the current owner(mortgagor) to a mortgagee,it follows that only the first mortgage can hold this distinct status.A legal mortgage is therefore a document in which the direct conveyance of title is involved subject to the repayment of a debt.
If the deed of the house is in your husbands and your name and you are paying the original owners mortgage what are your legal rights to the home?
You and your husband are the legal owners of the property but it is subject to the mortgage. If you default on the mortgage payments the bank can take possession of the property by foreclosure.
What do you mean by deed of priority from legal angle?
mortgage
Is it legal to require a satisfaction for an unrecorded mortgage?
yes
What is a puisne mortgage?
A legal mortgage of unregistered land in which the mortgagee does not keep the title deeds of the land as security.
Legal age to sign mortgage documents in Michigan?
18 is the legal age to sign a mortgage document in Michigan. The same is true for nearly every other state as well.
Is it legal to transfer your mortgage to your family member?
It depends, and if ever it is possible the family member that you would transfer your mortgage to, would be liable for the repayment of the debt of your mortgage.
What is the difference between a legal charge and a mortgage?
A mortgage is a loan secured by real property.A legal charge in some jurisdictions is the right a lender has to take that property if the loan is not paid back.
What is the legal age to sign a mortgage loan in Tennessee?
The legal age to sign any contract is 18.
