Simple Mortgage - Law Dictionary Search Results
simple mortgage clause
Matched in: Term simple mortgage clause
Simple mortgage
Matched in: Term Simple mortgage
Law of Property Act, 1925 (English)
important change was the abolition of all legal estates or tenures in land, except an estate in fee simple in possession, and a term of years absolute in or in certain incorporeal hereditaments arising out of annexed … 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
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Mortgage
Matched in: Term Mortgage
Priority
were swept into this rule, viz., all equitable interests inland (i.e., all estates for less than a fee simple absolute in possession or a term of years absolute and corresponding incorporeal hereditaments (see s. 1 of the … 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
Merger
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 mortgage term, and a similar consequence, mutatis mutandis, follows upon foreclosure
Estate
of being the subject of many estates existing concurrently with each other, thus the absolute ownership or fee simple may be leased and sub-leased, mortgaged and charged, each of the holders of these estates having a good … estates existing concurrently with each other, thus the absolute ownership or fee simple may be leased and sub-leased, mortgaged and charged, each of the holders of these estates having a good legal or equitable estate at the
open mortgage clause
Matched in: Term open mortgage clause
annual percentage rate (apr)
good basis for comparing the cost of loans, including mortgage plans. APR is a higher rate than the simple interest of the mortgage. Source: U.S. Department of Housing and Urban Development
Makful and Mustaghraq
in the present case, connote only one meaning and no other. They are terms to indicate that a simple mortgage has come into existence, Radhe Lal v. Kishori Lal, AIR 1935 Lah 527.
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