Communiquez avec les autres et partagez vos connaissances professionnelles

Inscrivez-vous ou connectez-vous pour rejoindre votre communauté professionnelle.

Suivre

What is the name of the mortgage document that allows the bank to repossessed your house if the term in that document was not satisfied?

user-image
Question ajoutée par Leonora Bigelow , Document Analyst, Correspondent Lending Department , JPMorgan/Chase
Date de publication: 2014/06/23
Mirko Ucur
par Mirko Ucur , Regional manager , KNEZ PETROL DOO BEOGRAD

In my country (Republic of Serbia) there are two ways of mortgage enforcement: out-of-court procedure and court enforcement procedure. The first mentioned, out-of-court procedure is performed in accordance with the Law on mortgage and it is based on the mortgage statement document (sometimes called "the pledge statement") and the second mentioned, the court enforcement is performed in accordance with the Law on enforcement and securization and it is based on mortgage contract or statement. Once the mortgage statement is signed by the owner of the real estate(s), it has to be certified by the court and based on that statement a creditor is entitled to register the mortgage at competent register (cadastral municipality). 

Allah Noor Tareen
par Allah Noor Tareen , One of Industry in Pakistan even in world , Habib Bank Limited

Registered and title collateral documents which is mortgaged with the lender and the lender possess legal recourse to repossessed the mortgaged property in case of default. In case if the sale proceeds of mortgaged property is not covered against the outstanding debts, the Bank has rights to get attached the other assets of mortgagor i.e. non encumbrance collateral for recovery of outstanding liability.

 

Aravind Wadakar
par Aravind Wadakar , Senior Associate , Cognizant Technology Services

Title Deed - a legal document proving a partie's right to property

UMAPATHI VADLAMANI
par UMAPATHI VADLAMANI , Mortgage Analyst , Wells Fargo India Solutions Pvt.Ltd

Repossession Notice as specified in Loan Agreement 

Ivanka Dzhundzhurova
par Ivanka Dzhundzhurova , Branch Manager - office Blagoevgrad , Alpha bank - branch Bulgaria

The mortgage document that allows the bank to repossed my house is Notary deed

Utilisateur supprimé
par Utilisateur supprimé

In the above mentioned event apart from the foreclosure clause mentioned in the agreement signed by the mortgager and mortgagee the legal document is the registration of mortgage in the title deed of the property

Avez-vous besoin d'aide pour créer un CV ayant les mots-clés recherchés par les employeurs?