Equity Security - Law Dictionary Search Results
Home Dictionary Name: equity security Page: 2Further advance, or charge
Further advance, or charge, a second or subsequent loan of money to a mortgagor by a mortgagee, either upon the same security as the original loan was advanced upon, or an additional security, Equity considers the arrears of interest on a mortgagee security converted into principal, by agreement between the parties, as a further advance.Although the tacking of a third or subsequent mortgage has been abolished by the Law of Property Act, 1925, s. 94, that s. has expressly preserved the right to tack a further advance by a prior mortgage so that the advance may rank in priority to subsequent mortgages, even if the further advance was made with notice of a subsequent mortgage or charge in cases where the mortgage imposes an obligation to make further advances. Where the mortgage is to secure a current account or any other further advances, notice of an intervening charge will postpone the further advance to that charge but (by way of exception) in this case notice will not be imputed to t...
loan
loan 1 a : money lent at interest b : something lent usually for the borrower's temporary use 2 : a transfer or delivery of money from one party to another with the express or implied agreement that the sum will be repaid regardless of contingency and usually with interest ;broadly : the furnishing of something to another party for temporary use with the agreement that it or its equivalent will be returned [the leasing of the vehicle was termed a subject to usury statutes] bridge loan : a short-term loan used as a means of financing a purchase or enterprise prior to obtaining other funds [used a bridge loan to purchase a new home prior to the sale of their previous one] con·ven·tion·al loan [kən-ven-chə-nəl-] : a loan for the purchase of real property that is secured by a first mortgage on the property rather than by any federal agency demand loan : a loan that is subject to repayment upon demand of the lender home equity loan : a loan or line o...
redeem
redeem 1 a : repurchase b : to repurchase by right and not on the open market [ preferred shares] 2 a : to free from a lien or pledge usually by payment of the amount secured thereby [ collateral] b : to exercise an equity of redemption in (real property) by payment in full of a mortgage debt after default but prior to a foreclosure becoming effective [a right to property prior to the actual sale under a judgment of foreclosure "Bowery Sav. Bank v. Harbert Offset Corp., 558 N.Y.S.2d 821 (1990)"] see also equity of redemption c : to exercise a right of redemption in (real property) within the period set by law by a repurchase that voids the effect of foreclosure or sale see also right of redemption NOTE: A mortgagor with a right of redemption might redeem property within the set period following a foreclosure sale by paying the new purchaser the purchase price, interest, taxes, and lawful charges. d : to remove the obligation of by payment (as at maturity) [ a bond] 3 a : to...
Married women's property
Married women's property, At Common Law, a woman, by marrying, transferred the ownership of all her property, real and personal, present and future, to her husband absolutely, so that he might sell, pay his debts out of, give away, or dispose by will of it as he pleased, with these exceptions and modifications:-1) Her freehold estate became his to manage and take the profits of during the joint lives only. After his death, leaving her surviving, it passed to her absolutely; after her death, leaving him surviving, provided that it was an estate in possession and issue who could in her it had been born during the marriage, it passed to him as 'tenant by the curtesy (q.v.) of England,' during his life, and after his death to her heir-at-law.(2) Her leasehold estate, her personal estate in expectancy, and the debts owing to her and other 'choses in action,' became his absolutely if he did some act to appropriate or reduce them into possession during the marriage, or if he survived her. If ...
Clog on equity of redemption
Clog on equity of redemption. Any provision inserted in a mortgage to prevent redemption on payment or performance of the debt or obligation for which the security was given is called a 'clog' or fetter on the equity of redemption, and is void; see Santley v. Wilde, (1899) 2 Ch 474. The question as to the exact nature and limits of this old rule of equity has been raised in a number of rcent cases, see G. & C. Kreglinger v. New Patagonia Meat Co., 1914 AC 25, where will be found a discussion of the whole subject. And see EQUITY OF REDEMPTION; MORTGAGE....
equity financing
equity financing The securing of a monetary investment from an investor in which the investor becomes a part owner of the business ...
Tail
Tail [fr. tailler, Fr., to prune]. An estate-tail was formerly a freehold of inheritance and is now an equitable interest which may be created after 1925 in respect of personalty as well as realty by way of trust and which (if not barred or disposed of by will after 1925) will devolve inequity on the person who would have taken realty as heir of the body or as tenant by the curtesy if the Law of Property Act, 1925, had not been passed [s. 130 (4) (ibid.)]The limitation of an estate so that it can be inherited only by the fee owner's issue or class of issue, Black's Law dictionary 7th Edn., p. 1466.An estate-tail in land now constitutes a settlement. [(English) Settled Land Act, 1925, s. 1]With this and other statutory modifications under the (English) Law of Property Act, 1925, the rules relating to this form of estate are still applicable (a) in the investigation of all titles to land in existence on the 31st December, 1925; (b) in the construction of equitable interests into which th...
Sponsor
Sponsor, a surety; one who makes a promise or gives security for another, particularly a godfather in baptism.Means any person holding not less than ten per cent of the paid-up equity capital of a securitisation company or reconstruction company. [Securitisa-tion and Reconstruction of Financial Assets and Enforcements of Security Interest Act, 2002 (54 of 2002), s. 2(1) (zh)]1. One who acts as surety for another 2. A legislator who proposes a bill 3. One who voluntarily intervenes for another without being requested to do so, Black's Law Dictionary, 7th Edn., p. 1410....
VerbarNe exeat
A writ to restrain a person from leaving the country or the jurisdiction of the court The writ was originally applicable to purposes of state but is now an ordinary process of courts of equity resorted to for the purpose of obtaining bail or security to abide a decree...
Satisfaction
Satisfaction, legal compensation; the recompense for an injury done, or the payment of money due and owing. See ACCORD.The giving of something with the intention, express or implied, that it is to extinguish some existing legal or moral obligation, Black's Law Dictionary, 7th Edn., p. 1343.The doctrine of satisfaction of legacies, portions, and debts means the gift of a thing with the intention, either expressed or implied, that it is to be taken either wholly or partly in extinguishment of some prior claim or demand. Of course, it is open to a donor expressly to provide that his subsequent gift shall be a satisfaction of a prior demand, so as to prevent such donee from claiming both. With regard to implied or presumable satisfactions, they have been divided in to the three following classes:-(1) The satisfaction of legacies by portions, otherwise called the ademption of legacies. Upon this subject Lord Eldon laid down in Ex parte Pye, (1811) 18 Ves. 140; 2 W. & T.L.C., that 'where a p...
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