Bankruptcy Mortgage

Bankruptcy Mortgage Articles

  • Section 78eee. Protection of customers ... in the same or any other court of any bankruptcy, mortgage foreclosure, ... stay any pending bankruptcy, mortgage foreclosure, equity receivership, ...


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Operation of the mortgage


The borrower (also called the mortgagor) uses a mortgage to pledge real property to the lender (also called the mortgagee) as security against the debt (also called hypothecation) for the rest of the value of the property. In legal terms, the creation of a mortgage gives the ''legal title'' of the land to the mortgagee and an ''equitable title'' (called "equity of redemption") to the mortgagor. The legal title, however, only exists as a security for a debt and does not convey any title or powers associated with real property.
Article from Wikipedia licensed under GNU Free Documentation License.


Last Updated August 11, 2005

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