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Hypothec (/ h aɪ ˈ p ɒ θ ɪ k, ˈ h aɪ p ɒ θ-/; German: Hypothek, French: hypothèque, from Lat. hypotheca, from Gk. ὑποθήκη: hypothēkē), sometimes tacit hypothec, is a term used in civil law systems (e.g. the law of most of Continental Europe) or to refer to a registered real security of a creditor over real estate, but under some jurisdictions it may additionally cover ships ...
The spendthrift clause has three general exceptions to the protection afforded: the self-settled trusts (if the settlor of a trust is also a beneficiary of a trust), the case when a debtor is the sole beneficiary and the sole trustee of a trust, and the support payments (a court may order the trustee to satisfy a beneficiary's support ...
When the debt is fully paid, the beneficiary is required by law to promptly direct the trustee to transfer legal title to the property back to the trustor by reconveyance, thereby releasing the security for the debt. [6] Deeds of trust are the most common instrument used in the financing of real estate purchases in Alaska, Arizona, California ...
A secured loan is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral for the loan, which then becomes a secured debt owed to the creditor who gives the loan. The debt is thus secured against the collateral, and if the borrower defaults , the creditor takes possession of the asset used as collateral and may ...
However the creditor has only one cause of action; i.e., they can sue for each debt only once. If the claim fails against one party, the bank cannot go on to sue any of the others. If the claim fails against one party, the bank cannot go on to sue any of the others.
A debtor or debitor is a legal entity (legal person) that owes a debt to another entity. The entity may be an individual, a firm, a government, a company or other legal person. The counterparty is called a creditor. When the counterpart of this debt arrangement is a bank, the debtor is more often referred to as a borrower.
In finance, a security interest is a legal right granted by a debtor to a creditor over the debtor's property (usually referred to as the collateral [1]) which enables the creditor to have recourse to the property if the debtor defaults in making payment or otherwise performing the secured obligations. [2]
An unpaired word is one that, according to the usual rules of the language, would appear to have a related word but does not. [1] Such words usually have a prefix or suffix that would imply that there is an antonym, with the prefix or suffix being absent or opposite.