Mortgage: Difference between revisions

Mortgage (view source)

No change in size , 19 January 2021

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-{{a|banking|}}{{a|security|}}A sort of [[security interest]] — a {{t|legal security}} interest, in fact, that involves transferring ''[[legal title]]'', but not ''[[beneficial ownership]]'', to [[property]] as [[security]] for a [[debt]]. Your mum and dad probably had one on their house, but have paid it off now.
+{{a|banking|}}A sort of [[security interest]] — a {{t|legal security}} interest, in fact, that involves transferring ''[[legal title]]'', but not ''[[beneficial ownership]]'', to [[property]] as [[security]] for a [[debt]]. Your mum and dad probably had one on their house, but have paid it off now.
 Mortgages are not ''just'' security interests over [[real estate]] by the way. any security over a [[chattel]] counts. Under the [[Law of Property Act 1925]]:
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 {{sa}}
 *[[Electronic execution]]
+{{c|Security}}