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📚 Law of Property 15 | Mortgage: Meaning, Essentials & Types of Mortgage.
This podcast episode simplifies the Mortgage: Meaning and Essentials, Kinds of Mortgage, making it easier for law students and enthusiasts to understand. Whether preparing for law exams, exploring legal studies, or enhancing your knowledge of Constitutional Law, this episode offers clear and valuable insights to guide your learning journey.

✍️ Essential Law Terms
1. Mortgage: A legal agreement where a borrower (mortgagor) pledges their property as security for a loan from a lender (mortgagee).
2. Mortgagor: The borrower in a mortgage transaction who pledges their property as security for the loan.
3. Mortgagee: The lender in a mortgage transaction who provides the loan and holds an interest in the mortgaged property.
4. Mortgage Deed: A legal document that outlines the terms and conditions of a mortgage agreement.
5. Simple Mortgage: A mortgage where the mortgagor personally guarantees repayment and provides the mortgagee the right to sell the property upon default.
6. Mortgage by Conditional Sale: A mortgage disguised as a sale where the property is transferred to the mortgagee with the condition of returning it upon full repayment.
7. Usufructuary Mortgage: A mortgage where the mortgagee takes possession of the property and enjoys its profits until the loan is repaid.
8. English Mortgage: A mortgage where the property is absolutely transferred to the mortgagee with the condition of re-transfer upon full repayment.
9. Equitable Mortgage: A mortgage created by depositing title deeds with the lender as security.
10. Anomalous Mortgage: A combination of two or more different types of mortgages.
11. Redemption: The right of the mortgagor to reclaim their property upon full repayment of the loan.
12. Foreclosure: A legal process that allows the mortgagee to take possession of the mortgaged property when the mortgagor defaults on the loan.
13. Sub-mortgage: When the mortgagee further mortgages their interest in the mortgaged property to another lender.
14. Puisne Mortgage: A second or subsequent mortgage on a property that is already mortgaged.

💡 About LexTalks
LexTalks: Legal Topics Simplified is an AI-generated educational podcast designed to make foundational legal concepts accessible to beginners. Our goal is to provide clear, concise, and engaging overviews of key banking and financial law topics to support students in their legal studies.

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This podcast is for educational and informational purposes only. As the content is AI-generated, occasional inaccuracies, omissions, or audio inconsistencies may occur, and it may not always reflect the latest legal developments. Always refer to prescribed textbooks, academic resources, or legal professionals for an accurate and in-depth understanding. LexTalks and its creators are not responsible for any errors, omissions, or misinterpretations. Verify all legal information with authoritative sources.

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