Mortgages & Finance

A mortgage (Law French for "dead pledge") is a device used to create a lien on real estate by contract. It is used as a method by which individuals or businesses can buy residential or commercial property without paying the full value upfront. 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 real property.

Foreclosures: Procedural overview
Andrew Bury provides a useful overview of procedural issues with respect to demand letters and petitions, full of relevant statutory and case references.
www.cle.bc.ca/CLE/Analysis/Collection/02-foreclosureprocedure?practiceAreaMessage=true&practiceArea=Real%20Estate

Alexander MacLeod Mortgage Consultants
We are Mortgage Brokers based out of Victoria, British Columbia, Canada. Our main goal is to provide you with the best possible mortgage package that is suited to your specific needs. Let our 40
www.alexandermacleod.com

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