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What is the difference between mortgage and pledge?
The differences between a mortgage and a pledge:1. The Security in Mortgaged is an immovable property, while in a pledge it is a movable property.2. In a pledge the ownership of the pledged property remains with the debtor (the pledgor or borrower). In a mortgage, the ownership of the mortgaged property is transfered to the creditor (banker or mortgagee).3. Delivery of the property is essential to a pledge; hence the goods delivered by the pledgor or borrower will be in the custody of the banker. But, in a mortgage, the possession of the property will be with the borrower.4. In a pledge, the banker (pledgee) can sell the pledged property without the intervention of the Court. In a mortgage, except in English mortgage, a mortgagee can sell the property only with the permission of the Court.5. A pledgee does not have the right of foreclousure (i.e. cannot debar the pledgor or the borrower from taking or redeeming the pledged property). But, in a mortgage, a mortgagee (borrower) has the right of foreclousre, i.e., can debar the borrower from taking back the mortgaged property under certain circumstances.M.J.SUBRAMANYAM, XCHANGING, BANGALORE
What is a synonym for mortgage?
A mortgage is a type of "loan." (another noun synonym is debt)The verb "to mortgage" has no direct synonyms, but metaphorically it can mean to pledge, or it can have the connotation of sacrifice or imperil (e.g. mortgaged his integrity to help his friend).
What is the meaning of the word mortgage?
I believe Mort is a French word meaning "death" and gage means "pledge or agreement" So the meaning of the work Mortgage is an "agreement till death."
What are the imp mode of creating charge on secured loan advances?
Lien, Pledge, Hypothecation and Mortgage are the four main modes of creating security....
What is Mortgage and what are the types of mortgage?
A mortgage is a conveyance of title to real property that is given as security for the payment of a debt. If the mortgage isn't paid the lender can take possession of the property by foreclosure. There are numerous types of mortgages and different practices under different jurisdictions.See related links for more information.Originally a latin word meaning death and debt/ pledge - or literally death pledge. Mort is from the word 'mori' also morbid therefore has the same scense of meaning. Gage is from the sense of that meaning a pledrge to forfeit something of value if debt is not repaid.
What are some reasons to breach a contract?
Some reasons to break a mortgage contract are: If the interest rate is above the legal rate for mortgages. If the mortgage is given without an underlying debt (a promissory note), the mortgage contract is invalid. A mortgage is simply a pledge of the house as security for an underlying obligation. Without the note, there is no reason to pledge the house as security. If the mortgage loan was obtained through a predatory lending practice made illegal by the Federal or state government. These are some reason to breach a mortgage contract without being liable for damages. If you break a mortgagew contract, the lender can foreclose, take the property and get a judgment against you for any loss it suffers, plus attorneys fees and court costs. In addition, even if the mortgage and mortgage note are breachable, you would be required to repay the money if you bought the house with it. The mortgage lender would lose the benefit of the bargain (the interest), but you would not be get out of repaying the loan as that would be unjust enrichment.
What is the difference between mortgage and pledge?
The differences between a mortgage and a pledge:1. The Security in Mortgaged is an immovable property, while in a pledge it is a movable property.2. In a pledge the ownership of the pledged property remains with the debtor (the pledgor or borrower). In a mortgage, the ownership of the mortgaged property is transfered to the creditor (banker or mortgagee).3. Delivery of the property is essential to a pledge; hence the goods delivered by the pledgor or borrower will be in the custody of the banker. But, in a mortgage, the possession of the property will be with the borrower.4. In a pledge, the banker (pledgee) can sell the pledged property without the intervention of the Court. In a mortgage, except in English mortgage, a mortgagee can sell the property only with the permission of the Court.5. A pledgee does not have the right of foreclousure (i.e. cannot debar the pledgor or the borrower from taking or redeeming the pledged property). But, in a mortgage, a mortgagee (borrower) has the right of foreclousre, i.e., can debar the borrower from taking back the mortgaged property under certain circumstances.M.J.SUBRAMANYAM, XCHANGING, BANGALORE
Does the word mortgage come from the French language?
Well, honey, you're on the right track! The word "mortgage" does indeed have French origins. It comes from the Old French words "mort," meaning dead, and "gage," meaning pledge. So next time you're drowning in debt, just remember you're literally making a dead pledge with your house. Ain't language fun?
What is mortgage in common law?
A Mortgage is a pledge of real property to a creditor as security for the repayment of a debt involving the property.
What is an affiance?
An affiancer is a person who makes a contract of marriage between two people.
Example of pactum commissorium?
A summary execution clause and a pactum commissorium will be invalid clauses in the case of a mortgage. A pactum commissorium is a stipulation in a contract of mortgage of pledge which provides that the mortgagee will automatically own the property mortgaged in case the mortgagor fails to pay the loan. If you buy a house the mortgage contract cannot contain a clause that will enable the bank to sell the house without a court order (in the case that you default on the payments), in other words the process whereby attachement takes place must be followed. There are specific procedures in place to protect the property owner from summary execution or a automatic process in regards to both general and special mortgages.rr
What are synonyms of covenant?
promise, contract, agreement, commitment, arrangement, pledge, pact
What is the root word of mortagagee?
The root word of mortgagee is "mortgage," which comes from the Old French word "mort" meaning death and "gage" meaning pledge or guarantee. This reflects the historical context in which a mortgage was seen as a pledge that ended upon the death of the borrower or the repayment of the loan.
Can you apply for a mortgage on property you have no title to?
No. You would have no standing to pledge property you don't own to obtain a loan.
What is a synonym for mortgage?
A mortgage is a type of "loan." (another noun synonym is debt)The verb "to mortgage" has no direct synonyms, but metaphorically it can mean to pledge, or it can have the connotation of sacrifice or imperil (e.g. mortgaged his integrity to help his friend).
What is piedge?
A pledge is a solemn promise or understanding between one or more people. A pledge is a commitment between each other to stand by the pledge at all times.
What is a promise or pledge to something or someone?
Several words have something similar to this definition. Oath, vow, pledge, profession, and contract are all examples of words with this meaning.
