In a situation that provides a mortgage lender the right to execute a foreclosure, who holds legal title?

Social Studies

1 answer:

harkovskaia [24]2 years ago

3 0

Answer:

mortgagee

Explanation:

A mortgage is a type of loan taken where a property especially a real estate is being used as a collateral. There is a mutual agreement between the borrower and the lender. The borrower signs a promissory note to return the debt to the lender.

The borrower is called as the mortgagor and the lender is known as the mortgagee. The borrower gives the legal title to the lender or the mortgagee while retaining the equitable title. Here the mortgagee owns the property until the loan is payed. In case of default by the mortgagor, the mortgagee can have immediate possession of the property since he have legal title of the property.

You might be interested in

Periodic tune-ups are important because they _________

Tatiana [17]

Here is the full choices for this question:
A. extend the life of your car
B. help you avoid costly repairs
C. prevent dangerous breakdowns
D. all of the above

I believe the answer is: D.all of the above.
Periodic tuneups refer to a scheduled maintenance that is ,made to ensure that your car is run at its peak efficiency. Conducting periodic tuneup would prevent the gears in your cars from deteriorating and make you become aware of potential problem before it becomes too damaging

6 0

2 years ago

What is the capital of India?

damaskus [11]

The capital city of India is New Delhi

7 0

3 years ago

Read 2 more answers

Which type of perspective explains the distinctive features that effective leaders possess?

kodGreya [7K]

A "Leader-Centered Approach" is a type of leadership perspective that features several features that are common in successful leaders.

Successful leaders possess these types of attributes: