In the case of a fair mortgage, the lender is insured by the purchase of all the original documents of the property and by the signing of a letter of intent on the deed of ownership (MODTD) by the borrower. This document is an obligation for the borrower to have filed the securities documents with the Bank with his own wishes and will in order to ensure the financing obtained by the Bank. [Citation required] As a result, some transactions are recognized as capital mortgages that are not recognized in this way by the common law. In a mortgage communication, it should be clearly stated the amount of money borrowed (the “main amount”) and the interest rate calculated in addition to the amount agreed to in the loan agreement or the amount of debt (the “interest amount”). In the loan agreement, you indicate how and when payments are made. Denis` mortgages were the original form of the mortgage and continue to be used in many jurisdictions and a small minority of states in the United States. Many other legal systems have abolished or minimized the use of the mortgage by the shipwreck. In England and Wales, for example, this type of mortgage is no longer available for land shares registered under Section 23 of the Land Registration Act 2002 (although it remains available for non-registered interest). A mortgage contract is a contract between a borrower (called mortgagor) and the lender (which is called the mortgage lender) that creates a right of bet on the ground to ensure repayment of the loan.

In addition, the mortgage agreement includes the amount of money the mortgage lent to the mortgage (the so-called investor), as well as all issues related to the payment, including interest rate, maturity dates and advance. The title theory is “the idea that a mortgage transfers mortgaged title deeds from Mortgagor to the mortgage borrower who keeps it until the mortgage is satisfied or locked. Few U.S. states… adopted this theory. [18] According to the title theory, a mortgage has the effect of a deed that follows the legal title of the mortgage property to the borrower (the lender in a loan contract is guaranteed by the mortgage), the so-called “right title” (that is really the cash capital) is retained by the Mortgagor (the borrower in the loan). The fact that Mortgagor retains the “equity in repayment” is the fact that the surrender of the security occurred under the title theory. Mortgages within the courts of legal theory can therefore be considered as the act of what could be described as “conditional acts”. Although the title is adopted on the basis of a mortgage, the agreement is generally interpreted by the courts to recognize Mortgagor as the “owner” of the mortgaged property within the courts of legal theory. Nevertheless, the enforcement of the building as an appeal against the removal under the title theory is most often extrajudicial (with the exception of the courts).

Specific procedures for the enforcement and sale of the mortgaged property almost always apply and can be strictly regulated by the government concerned. In some legal systems, seizures and sales can be done fairly quickly, while in others, execution can take many months or even years. In many countries, the ability of lenders to close is extremely limited and the development of the mortgage market has been particularly slow.