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Mortgage - Coggle Diagram
Mortgage
Mortgagee's Rights and Remedies
Mortgagee's Rights
(i) Right to Possession
(ii) Right to Foreclose
Additionally under CLPA
(i) Power of Sale
(ii) Right to Insure
(iii) Right to Transfer
(iv) Right to Lease
(v) Right to Mortgage his interest.
Remedies on Default
Action on Covenant to Repay
Appointment of Receiver
Mortgagee's Power of Sale
Foreclosure
Judicial Sale
Action on Debt
Types and Nature
Common Law Legal Mortgage
Mortgages under Land Titles Act
Mortgages under the Registration of Deeds Act
Equitable Mortgages
Common forms of Mortgages in Conveyancing
Direct Mortgage
Indirect Mortgage
All-monies Mortgage
Closed Mortgage
Legal Charges
Equitable Charges
Mortgagor's Rights
Equity of Redemption
Clogs on the equity of redemption
Penalties and Unconscionable Mortgage terms
Further Rights of Mortgagors
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(a) Right to assign his interest in the land to a third party.
(b) Right to lease: for a period not exceeding three (3) years at the best possible rent; subject to the terms of the mortgage
(c) Right to mortgage the equity of redemption. The subsequent mortgages will be equitable mortgages.
(d) Application to court under section 30 of CLPA to sell the property.
Discharge of Mortgage
Right of Consolidation
Mortgages and Charges
under the Torrens System
Mortgages under general law and LTA
Power of Sale
Entry into Possession
Undue Influence &
Unconscionability