Mortgagee - Law Dictionary Search Results
Assumption clause
Assumption clause, means a mortgage provision that prohibits another from assuming the mortgage without the permission of the mortgagee. A provision by which the transferee of an instrument agrees to assume an obligation of the transferor, Black
Extent
obligation, or specialty, or acceptance of office, shall affect any lands, tenements, or hereditaments as to pur-chasers or mortgagees, unless and until such memorandum or minute thereof, as in the Act provided, shall be registered as is
mortgage
embodying and containing the provisions of a mortgage [executing and recording s] b : the interest of a mortgagee in mortgaged property [the bank holds the ] vt mort·gaged mort·gag·ing 1 : to grant or convey by
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mortgage clause
mortgage clause : a clause in an insurance contract (as for fire insurance) that entitles a named mortgagee to be paid for damage or loss to the property see also open mortgage clause, standard mortgage clause
satisfaction piece
satisfaction piece : a formal written acknowledgment by an obligee (as a mortgagee) that an obligation has been satisfied and that the obligor is discharged
statutory foreclosure
statutory foreclosure : a foreclosure in which a mortgagee or trustee executes a power of sale given in a mortgage or deed of trust and does so
strict foreclosure
fixed with the understanding that in the event of the mortgagor's default title will be vested in the mortgagee free of any right of the mortgagor to redeem compare statutory foreclosure 2 : the acceptance by a
waste
or life tenant) having a lesser estate and is usually to the injury of another (as an heir, mortgagee, or remainderman) with an interest in the same property [an action for ] ame·lio·rat·ing waste [ə-mēl-yə-rā-ti-] : waste
interest
that exists by contract as security for payment or performance of an obligation [the security interest of a mortgagee in the mortgaged property] ;also : lien NOTE: While a lien may be created by statutory or judicial
Attendant term
which the then trustee of the term had not been a party, and of which the purchaser or mortgagee of the freehold had had no notice when he paid the purchase or mortgage money, he would be
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