Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Is a mortgager bound by the (fraud) mortgage if it is drafted as an all advances mortgage, and therefore does not state that it secures
Is a mortgager bound by the (fraud) mortgage if it is drafted as an "all advances" mortgage, and therefore does not state that it secures repayment of the principal sum but instead it states that it secures repayment of advances to be made to the mortgagor"from time to time"?
(Note: The mortgage would be registered against the Land Transfer title for the property)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started