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Mortgaged property is real property that has been used as collateral for a debt. The mortgage lien remains on the property until the debt is paid. Generally the legal agreement signed by the mortgagor gives the lender the right to take possession of the property and sell it if the loan is not paid. That process is called a foreclosure.
What else can I help you with?
Can you trade a mortgaged property in Monopoly?
No, you cannot trade a mortgaged property in Monopoly.
Can you sell mortgaged property to the bank in Monopoly?
No, you cannot sell mortgaged property to the bank in Monopoly.
Can you collect rent on mortgaged property in Monopoly?
Yes, in the game of Monopoly, you can collect rent on mortgaged property.
Concealing mortgaged property?
Concealing mortgaged property is considered to be illegal. This is translated to mean that on has an ill motive or fraudulent intentions.
Can you conceal mortgaged property with out going to jail?
Laws vary from state to state. In some states, it is considered a delony to conceal mortgaged property.
What happens to mortgaged property in Monopoly when you lose the game?
When a player loses the game of Monopoly, their mortgaged property is returned to the bank and can be bought by other players.
How lease property mortgaged to Bank can be sold?
it can be sold to the lessee
Difference between simple mortgage and English mortgage?
In a simple mortgage,the mortgagor without delivering possession of the mortgaged property binds himself personally to pay the mortgage money and agrees expressly or impliedly that if he fails to pay the debt and interest in terms of the mortgaged deed, the property will be sold and the proceeds applied in payment to the mortgaged money.In an English mortgage,a mortgagor binds himself to repay the mortgaged money on certain date and transfers the mortgaged property absolutely to the mortgagee subject to the provision that he will re-transfer it to the mortgagor upon payment of the mortgaged money as agreed.
What does a lien on real property accomplish?
The property cannot be sold or mortgaged until the lien has been paid.
Is it permissible to sell a mortgaged property in Monopoly, and if so, what are the consequences of doing so"?
In Monopoly, it is not permissible to sell a mortgaged property. If a player tries to sell a mortgaged property, they must first pay off the mortgage before selling it. If they sell it without paying off the mortgage, the buyer must immediately pay off the mortgage plus an additional 10 interest.
Does a judgment act the same as a lien when you sell real property?
When a judgment is recorded in the land records it becomes a judgment lien against the debtor's real property. That property cannot be sold or mortgaged until the lien is paid.When a judgment is recorded in the land records it becomes a judgment lien against the debtor's real property. That property cannot be sold or mortgaged until the lien is paid.When a judgment is recorded in the land records it becomes a judgment lien against the debtor's real property. That property cannot be sold or mortgaged until the lien is paid.When a judgment is recorded in the land records it becomes a judgment lien against the debtor's real property. That property cannot be sold or mortgaged until the lien is paid.
If a property in the set is mortgaged can you collect double rent?
Just talked with the Hasbro experts. My daughter had all 3 reds. Two of the reds were mortgaged. Her sister landed on the only red that was not mortgaged. The answer is YES she gets to collect double the rent for the red that was not mortgaged that her sister landed on. Hope this helps!
