Mortgaged - Law Dictionary Search Results
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
Further 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
Tacking
Tacking. Before 1926 the law was that, 'if a third mortgagee buys in the first mortgage, though it be pendente lite, pending a bill brought by the second mortgagee
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security
security pl: -ties 1 a : something (as a mortgage or collateral) that is provided to make certain the fulfillment of an obligation [used his property as for
Title, Covenants for
see David v. Sabin, (1893) 1 Ch 523:- (A) In a conveyance for valuable consideration other than a mortgage by a person expressed to convey as beneficial owner:-That, notwithstanding anything done, omitted, etc., by the person conveying,
REMIC
REMIC [real estate mortgage investment conduit] : an entity (as a corporation, partnership, or trust) that functions as a vehicle for investment
Pawn or Pledge
bailment of goods by a debtor to his creditor, to be kept till the debt is discharged. A mortgage of goods is in the Common Law distinguishable from a mere pledge or pawn. By a mortgage the
Salary or wages
the vendor the reconveyance, then the transaction is an outsale with the condition of repurchase, and not a mortgage by conditional sale, K. Kalu Reddy v. Bhubani Swayi, (1971) 1 CWR 689. Means a sale of goods
Mortgagee
Mortgagee, a 'mortgagee' for the purpose of redemption would include all persons who derive title from him and it
Merger
estate of freehold. Under s. 88 of the (English) Law of Property Act, 1925, a foreclosure by a mortgagee will merge the mortgage term into and vest the fee simple in the mortgagee subject to any prior
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