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Encumbrance

Utilization Act, 1973 (18 of 1974), s. 3] Encumbrance, means a liability which burdens the property, for ex-lease mortgage, easement restriction, covenant, rent charge etc., Business India Builders & Developers Ltd. v. Union Bank of India, AIR

Equitable estates and interests

assignment which does not by law transfer or vest the legal estate or ownership in the transferee, by mortgage or charge, and whenever a trust arises, either express, constructive, implied or by operation of law. In theory

Financial asset

debt or receivables or part thereof, whether secured or unsecured; or (ii) any debt or receivables secured by, mortgage of, or charge on, immovable property; or (iii) a mortgage, charge, hypothecation or pledge of movable property; or

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If the controller is satisfied

is satisfied' do not have any special significance. An ordinarily Civil Court try-ing a suit either on a mortgage or on a promissory note has necessarily to be satisfied about the execu-tion of the document, the passing

Stellionate

should sell as his own estate that which is another's. In the Roman law, the making a second mortgage without giving notice of the first; but the crime was not committed if the land were equal in

Law of Property Act, 1925 (English)

same piece of land or incorporeal hereditament; for instance, land may be held in fee simple, leased and mortgaged at the same time. all other estate and interests inland are reduced to equitable interests. All mortgages of

Mortuum vadium

Mortuum vadium, a deed pledge or mortgage. See MORTGAGE.

Portion

settle a long term of years from or out of the real estate upon trust to sell or mortgage the term in order to provide the portions when they became payable. See SATISFIED TERM; ATTENDANT TERM. This

Priority

a memorandum on the trust instrument are provided by the section, see Dearle v. Hall. In regard to mortgages: before 1926, puisne mort-gagees to whom the equity of redemption was conveyed in succession obtained priority by the

Redemption

of a loan (see FUNDS). The term is used especially with reference to the paying off of a mortgage debt. An action of redemption is a suit brought to compel the mortgagee to recover the property to

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