BANK TERMS
This query is : Resolved
18 June 2009
what are the differences btw the terms CHARGE,PLEDGE, MORTGAGE, HYOPOTHECATION, REVERSE MORTGAGE....
18 June 2009
Hypothecation:
The pledge of property (real estate) and or assets to secure a loan. Hypothecation does not transfer title, however it does provide the right to sell the pledged property in the event of default.
PLEDGE: giving rights in a property as security without having to give up possession of it. (same as above).
The pledge of property (real estate) and or assets to secure a loan. Hypothecation does not transfer title, however it does provide the right to sell the pledged property in the event of default.
PLEDGE: giving rights in a property as security without having to give up possession of it. (same as above).
18 June 2009
Mortgage:
A written instrument that creates a lien upon real estate as security for the payment of a specified debt.
Reverse Mortgage:
A mortgage used by the elderly that provides income as long as they live in exchange. Payments made cause the loan principal to increase.
A written instrument that creates a lien upon real estate as security for the payment of a specified debt.
Reverse Mortgage:
A mortgage used by the elderly that provides income as long as they live in exchange. Payments made cause the loan principal to increase.
18 June 2009
Creation of security by way of any of the above is called creation of charge.
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