Asked by
Mohsen Khalid
on Nov 10, 2024
Verified
It is common today for a ________, needing more funds, to transfer the equity of redemption to another creditor as security for a further loan.
A) debtor
B) mortgagee
C) landlord
D) mortgagor
E) remainderman
Equity of Redemption
The right of a mortgagor to reclaim property in the process of foreclosure by paying the debt owed.
Debtor
An individual or entity that owes money to another; the opposite party in these transactions is known as a creditor.
Mortgagor
The borrower in a mortgage agreement, who pledges the property as security for the repayment of the loan.
- Comprehend the idea behind life estate and fee simple ownership, including the rights and limitations involved.
- Understand the fundamental concepts of property law, focusing on the processes involved in the registration, transfer, and leasing of real and personal property.
Verified Answer
JG
Learning Objectives
- Comprehend the idea behind life estate and fee simple ownership, including the rights and limitations involved.
- Understand the fundamental concepts of property law, focusing on the processes involved in the registration, transfer, and leasing of real and personal property.