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In the insurance industry, an after acquired property clause allows insurance coverage for property the insured obtains after ratification of the policy or contract. This clause may operate only for a temporary period of time during which the insured must notify the insurer of the property so that the insurer can adjust the premiums accordingly.
RBS plc v Etridge (No 2) Court: House of Lords: Full case name: Royal Bank of Scotland Plc v Etridge (No.2), Barclays Bank Plc v Coleman, Barclays Bank Plc v Harris, Midland Bank Plc v Wallace, National Westminster Bank Plc v Gill, UCB Home Loans Corp Ltd v Moore, Bank of Scotland v Bennett, Kenyon-Brown v Desmond Banks & Co (Undue Influence) (No.2)
A mortgage is the standard method by which individuals and businesses can purchase real estate without the need to pay the full value immediately from their own resources. See mortgage loan for residential mortgage lending, and commercial mortgage for lending against commercial property.
A mortgage loan has two parts: The promissory note.This is the financing instrument that acts as evidence of the debt. It’s a written promise or agreement to repay the debt in installments with ...
The court held that, having regard to the fact that the contract of lease was subject to the suspensive condition contained in clause 15(i), and therefore imperfectum or inchoate until the condition was fulfilled, the real right of the bank as mortgagee, created by the registration of the mortgage bond over the premises, ranked in preference to the real right of the second respondent as lessee.
In the court case S.J. Amoroso Construction Co. v. U.S., 26 Cl. Ct. 759 (1992), Judge Plager wrote an opinion suggesting that the court had used the Christian Doctrine to resolve a case that could have been resolved more satisfactorily using other legal principles. He argued for very limited use of the Christian Doctrine based on the following ...
The mortgagor is the person or entity who borrows and pays back a mortgage loan. If you’re getting a mortgage to buy a home, you’re the mortgagor. The mortgagee is the lender, such as a bank ...
For example, making payments on the mortgage can evince an intent to assume it, as can paying less than the value of the property (if the difference is the amount outstanding on the mortgage). Absent an assumption of the mortgage by the purchaser, the purchaser buys the property subject to the mortgage, which means the property is still ...