Remedies of a legal mortgage

Fore closure: this is a court order which extinguishes the borrower’s equitable right to redeem the property. The interest of the borrower in the property is vested in mortgagee. Statutory power of sale: this is the right of the mortgagee Read More …

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Characteristics of a pledge

Characteristic of a pledge; There is delivery of possession from the Pawnor to the Pawnee. The right of ownership is the goods pledged as a security remains in the pawnor. A pledge is redeemable within six months, with seven days Read More …

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