legal mortgage
noun[C]
LAW,PROPERTYukusin the UK, amortgagein which theorganizationlendingthemoneyhas therightto take thepropertyif theloanis notpaidback
Compare
equitable mortgage
Examplesoflegal mortgage
legal mortgage
Generally speaking, an equitable mortgage has the same effect as a perfectedlegalmortgageexcept in two respects.
From
This example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.The holder of alegalmortgagealso has a power of sale over the assets.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.If alegalmortgageis not completed in this manner it will normally take effect as an equitable mortgage.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.I do not follow his point about a banker having alegalmortgage.
From the
Hansard archive
Example from the Hansard archive. Contains Parliamentary information licensed under theOpen Parliament Licence v3.0
It does not take alegalmortgagein any form except the ordinary form, at any rate in nine cases out of ten.
From the
Hansard archive
Example from the Hansard archive. Contains Parliamentary information licensed under theOpen Parliament Licence v3.0
The bank, let us say, is lending £10,000 on the security of land and buildings and of certain stocks, and it wants alegalmortgage.
From the
Hansard archive
Example from the Hansard archive. Contains Parliamentary information licensed under theOpen Parliament Licence v3.0
Everyone knows the difference between alegalmortgageand an equitable mortgage.
From the
Hansard archive
Example from the Hansard archive. Contains Parliamentary information licensed under theOpen Parliament Licence v3.0
True legal mortgages are relatively rare in modern commerce, outside of occasionally with respect to shares in companies.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.Legal mortgages of leaseholds in a similar way will be effected by a subdemise and not by assignment.
From the
Hansard archive
Example from the Hansard archive. Contains Parliamentary information licensed under theOpen Parliament Licence v3.0
I agree that there may be certain equitable mortgages that are only in form different to legal mortgages, but these are not normally cases of equitable mortgages.
From the
Hansard archive
Example from the Hansard archive. Contains Parliamentary information licensed under theOpen Parliament Licence v3.0
These examples are from corpora and from sources on the web. Any opinions in the examples do not represent the opinion of the Cambridge Dictionary editors or of Cambridge University Press or its licensors.
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