Let us suppose that you hold one note and the mortgage, and that the mortgageecomes to you and tenders the amount of your note, should you then surrender the mortgage to him?
When the full amount, with interest, is paid in, it becomes the duty of the mortgagee to have the mortgage "discharged.
A mortgage need not remain in the hands of the mortgagee in order to be valid.
A mortgage must be recorded the same as a deed, the mortgagee paying the fees.
The first mortgagee is entitled to be paid in full first, then the second, and so on.
The mortgagee may use his mortgage as security for loans or he may assign it as he pleases.
Mortgages are frequently given in cases where there is a debt existing to secure or indemnify the mortgagee against some liability which he may possibly incur on behalf or for the benefit of the mortgagor.
Well, then, on fait un commandement tendant de saisie immobiliere, viz: The mortgagee gives a notice that the property shall be put up for sale.
If the interest which should be paid half-yearly remains unpaid at the end of a year, the mortgagee has a right to be impatient, has he not?
Then it is put up for sale, and in most cases the mortgagee buys it in.
Footnote 128: Some one may suppose that some net earnings of the national banks might overlap some net earnings of the mortgagee monopolies, since mortgage profits are often obtained by banks.
It is immaterial what the debt is, an estate in possession of a mortgagee is generally made to pay full commissions to the attorney employed for it.
These circumstances arise from the various modes of agency, such as that of the attorney of estates, mortgagee in possession, receiver in chancery, &c.
Let us now turn to the attorney of a mortgagee in possession, and see what better he offers.
Erh-ch'eng himself did not know what to think of it; but next day the mortgagee sent to say that the money paid in was all imitation silver, and that he was about to lay the case before the authorities.
I should be at liberty to make the improvements I desire, and when the improvements be made, there should be a fair arrangement as to the proportion of profits due to me as mortgagee and improver, to you as original owner.
Louvier; in plain English, an announcement that his property at Rochebriant would be put up to public sale on a certain day, in case all debts due to the mortgagee were not paid before.
Often the purchaser of the crop and the mortgagee are one and the same person.
The mortgagee sucks them dry; he leaves them, apparent owners of a field, that, in point of fact, is theirs no longer.
The usual form of a chattel mortgage is a bill of sale with a conditional clause, stating the terms of the loan and that, on the mortgagor's failure to pay, the mortgagee may take possession of the property.
The rights of the mortgagee depend in many cases on the title, whether that has passed to him by virtue of the mortgage, or whether it still remains conditionally in the mortgagor.
The mortgage usually states a time for paying the debt, and if the terms are not observed, the mortgagee may proceed to take the property.
When the mortgagor fails to pay his debt, the right of the mortgagee to proceed in taking the property is usually regulated by statute, except when the parties have agreed themselves and in conformity with statute.
And if the property is subsequently sold to pay the mortgage, the first mortgagee has the first claim to the money received, the second mortgagee next and so on.
If there is not enough to pay all, the last mortgagee is the first to be cut off, or to receive less than the full amount due to him.
This he cannot do in an arbitrary way, except in the case of mortgages in which the mortgagee is entrusted with power to sell the property and apply the money in payment of the debt.
When the mortgagee takes possession of the vessel he is entitled to all the earnings that accrue, but not to those which the mortgagor has reserved, even though they are for the current voyage.
The rule should also be stated that where the rights of third parties are in issue, it must appear that the mortgagee acquired the mortgage before they had any rights to the property.
In other cases the mortgagee must apply to the court to fix a time for the sale of the property, if the mortgagor fails to make payment.
It is the deed always given by a mortgageeon the payment or discharge of his mortgage.
This man C takes possession of the land as mortgagee and cultivates it for some years.
Well, then, on fait un commandement tendant de saisie immobiliere, viz: The mortgagee gives a notice that the property shall be put up for sale.
The mortgagee is not permitted to transfer title to the real estate.
If it is stipulated that the mortgagee is to have possession, he is entitled to it under the terms of the mortgage contract.
For all practical purposes, a mortgage of real estate means that the mortgagee may sell the property mortgaged upon failure of the mortgagor to pay the mortgage debt when due.
Some mortgages contain a stipulation that in case the mortgagor fails to pay the mortgage debt when due, the mortgagee may sell the property, deduct his claim costs and expenses, and return the balance to the mortgagor.
When the mortgagor defaults in payment of the secured debt, how may the mortgageeobtain possession of the property?
Legal title is vested absolutely in the mortgageeupon failure of the mortgagor to pay the mortgage debt when due.
The mortgageehas the right to sell the debt secured by the mortgage.
If a mortgagor stipulates in the mortgage that he waives, or will not enforce his equity of redemption, the law does not permit the mortgagee to enforce such a stipulation.
Can a mortgagor enforce his equity of redemption after the mortgagee has obtained possession of the property?
If the mortgagor does not pay the debt secured, according to the terms of the mortgage the mortgagee has the right to seize the property or at least to subject it to the satisfaction of his debt.
After default, the mortgagee may take possession of the premises.
These statutes frequently provide that a mortgagee may enforce his mortgage, and obtain a judgment against the mortgagee on the mortgage debt in the same action.
When a debt secured by a mortgage is assigned, the assignee should immediately notify the mortgagor of the assignment, in order that the mortgagee shall pay him, and not the assignor.
When a mortgageetakes possession of the mortgaged premises, this is sufficient notice to creditors and subsequent purchasers of his interests.
When the debtor fails to pay the debt when it is due, absolute title to the property vests in the mortgagee or creditor.
The common method afforded a mortgagee of foreclosing a mortgagor's equity of redemption is by the petition in equity above described.
Sometimes a new squatter reigned in his stead, sometimes for years the mortgagee left the place in charge of a shepherd--a new and dreary form of absentee ownership.
Another pretended mortgagee of the Maid then started up in the person of the Bishop of Beauvais, who claimed her on behalf of the University of Paris.
Rufus treated him as a mortgagee so far as to pay him off in the current coin of the age, though a year or two after (a.
After her sale FitzGerald still remained the mortgagee of the Meum and Tuum and the Henrietta.
Instead of "The mortgagor paid him the money," say "The mortgagee paid him the money.
The other mortgagee is your intended father-in-law, who has invested his daughter’s fortune in the same property as her trustee and guardian.
He then gave it as his deliberate opinion that the best thing was for the mortgagee to sell, and if he realized a sum beyond the encumbrance, it might be invested for the joint use of the children.
The mortgagor was the original debtor and cannot escape from his obligation to the mortgagee without the latter's assent.
That, too, would be easy enough if the mortgagee were willing to agree to it, but the mortgagee is not willing to agree unless equal security is substituted for any goods that are sold.
As against a grantee who has not assumed the debt, the mortgagee has no rights.
This difficulty was met by allowing the mortgagee to bring a suit to foreclose the debtor's right of redemption.
If the mortgagee refused to accept his debt and interest, the mortgagor could bring a suit in equity to redeem the property and the court would order the reconveyance to him of the property on payment of the debt.
Where themortgagee is regarded as having merely a lien, the assignment of the debt involves a transfer of the lien.
The fact that the debtor has given the mortgage does not in any way limit the rights of the mortgagee as an ordinary creditor.
Whether the mortgagee may sue directly a grantee of mortgaged premises who has assumed and agreed to pay the mortgage, is a question which has been much litigated; but it is now held almost everywhere that the mortgagee may do so.
And, in effect, one who obtains the mortgage debt will secure the benefit of the mortgaged property even though the local law regards a mortgagee as having the legal title.
The above list will hopefully give you a few useful examples demonstrating the appropriate usage of "mortgagee" in a variety of sentences. We hope that you will now be able to make sentences using this word. Other words: banker; dun; moneylender; mortgagee; pawnbroker
