mortgage debtor
11mortgage — mort·gage (môr’gĭj) n. 1. A loan for the purchase of real property, secured by a lien on the property. 2. The document specifying the terms and conditions of the repayment of such a loan. 3. The repayment obligation associated with such a loan:… …
12mortgage — n. & v. n. 1 a a conveyance of property by a debtor to a creditor as security for a debt (esp. one incurred by the purchase of the property), on the condition that it shall be returned on payment of the debt within a certain period. b a deed… …
13mortgage — [ mɔ:gɪdʒ] noun a legal agreement by which a bank, building society, etc. lends money at interest in exchange for taking title of the debtor s property, with the condition that the conveyance of title becomes void upon the payment of the debt.… …
14Chattel mortgage — Chattel mortgage, sometimes abbreviated CM, is the legal term for a type of loan contract used in some states with legal systems derived from English law. Under a typical chattel mortgage, the purchaser borrows funds for the purchase of movable… …
15Home Debtor — An individual who holds a large mortgage with little or no equity in the home. The term home debtor is often used to describe those who will likely never be able to pay off their mortgage because of the costs associated with home ownership, such… …
16trust mortgage — noun 1. : a mortgage made to a trustee generally to secure an issue of bonds or a series of obligations wherein the rights of the parties are declared in a trust agreement set forth or referred to in the mortgage 2. : a mortgage given by a debtor …
17assumption of mortgage — An agreement by the grantee of mortgaged premises to pay the debt secured by the mortgage. 37 Am J1st Mtg § 997. There is a broad and obvious distinction in the effect there of upon the rights of the parties, between the taking of mortgaged… …
18creditor, debtor — A creditor is one to whom money is due; a debtor is one under financial obligation to someone else: This wealthy mortgage holder is a creditor to ten property holders in this town. Three small loan companies were able to prove that I was their… …
19PLEDGE — The Concept In Jewish law, in addition to the personal right of action against the debtor, the creditor also has a right of lien on the latter s property. This lien automatically comes into being when the debt is created and is termed aḥarayut… …
20property law — Introduction principles, policies, and rules by which disputes over property are to be resolved and by which property transactions may be structured. What distinguishes property law from other kinds of law is that property law deals with… …
