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A mortgage is a legal instrument of the common law which is used to create a security interest in real property held by a lender as a security for a debt, usually a mortgage loan. Hypothec is the corresponding term in civil law jurisdictions, albeit with a wider sense, as it also covers non-possessory lien.
Parties: cedens 'cedent' (= assignor); cessionarius 'cessionary, cessionee' (= assignee); debitor cessus 'third-party obligor'; Types: cessio in anticipando - assignment of future right or benefit
A mortgage loan or simply mortgage (/ ˈ m ɔːr ɡ ɪ dʒ /), in civil law jurisdictions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged.
This is a list of Latin words with derivatives in English language. Ancient orthography did not distinguish between i and j or between u and v. [1] Many modern works distinguish u from v but not i from j. In this article, both distinctions are shown as they are helpful when tracing the origin of English words. See also Latin phonology and ...
Once a mortgage is paid off, a lender is required to provide a deed of reconveyance. This would apply even if you pay off the loan early.
Mortgage; Chattel mortgage; Nonconsensual liens typically arise by statute or by the operation of the common law. Those laws give a creditor the right to impose a lien on an item of real property or a chattel by the existence of the relationship of creditor and debtor. Those liens include: tax liens, imposed to secure payment of a tax;
What is the Truth in Lending Act? The Truth in Lending Act (TILA) is a federal law that aims to promote transparency and protect consumers in credit transactions.
Mortgage loan origination is the process of your loan being established. When you formally apply for a mortgage , the lender or loan officer “originates,” or initiates the loan (or, to be more ...