mortgagee in possession

mortgagee in possession
A mortgagee in possession of the property mortgaged to him. An expression adopted by courts and law writers as a convenient phrase to describe the condition of a mortgagee who is in possession of mortgaged premises under such circumstances as to make the satisfaction of his lien a prerequisite to his being dispossessed, even in jurisdictions where the mortgage itself can confer no possessory right either before or after default; but the authorities are in some confusion as to what these circumstances are. It has been said that the possession must be "lawfully" acquired, or "without force;" that it must be taken under the mortgage, and because of it; that it need not be under the mortgage, nor with a view thereto; that it must be with the consent of the mortgagor, express or implied, etc. But there is probably no case limiting the right of a mortgagee to hold property of which he is in lawful possession to a case where such possession was with the consent of the mortgagor. Stouffer v Harlan, 68 Kan 135,74P610.

Ballentine's law dictionary. . 1998.

Игры ⚽ Нужно сделать НИР?

Look at other dictionaries:

  • mortgagee in possession — A mortgagee of real property who is in possession of it with the agreement or assent of the mortgagor, express or implied, and in recognition of his mortgage and because of it, and under such circumstances as to make the satisfaction of his lien… …   Black's law dictionary

  • mortgagee in possession — A mortgagee of real property who is in possession of it with the agreement or assent of the mortgagor, express or implied, and in recognition of his mortgage and because of it, and under such circumstances as to make the satisfaction of his lien… …   Black's law dictionary

  • possession — pos·ses·sion /pə ze shən/ n 1: the act, fact, or condition of having control of something: as a: actual possession in this entry b: constructive possession in …   Law dictionary

  • Security interest — A security interest is a property interest created by agreement or by operation of law over assets to secure the performance of an obligation, usually the payment of a debt.[1] It gives the beneficiary of the security interest certain… …   Wikipedia

  • Dimmock v Hallett — Court Court of Appeal in Chancery Date decided 13 November 1866 Citation(s) (1866 67) LR 2 Ch App 21 Case opinions Sir GJ Turner LJ and Sir HM Cairns LJ Dimmock v Hallett (1866 67) LR 2 Ch App 21 is an …   Wikipedia

  • mortgage — mort·gage 1 / mȯr gij/ n [Anglo French, from Old French, from mort dead (from Latin mortuus ) + gage security] 1 a: a conveyance of title to property that is given to secure an obligation (as a debt) and that is defeated upon payment or… …   Law dictionary

  • mortgage — /morgaj/ A mortgage is an interest in land created by a written instrument providing security for the performance of a duty or the payment of a debt. At common law, an estate created by a conveyance absolute in its form, but intended to secure… …   Black's law dictionary

  • mortgage — /morgaj/ A mortgage is an interest in land created by a written instrument providing security for the performance of a duty or the payment of a debt. At common law, an estate created by a conveyance absolute in its form, but intended to secure… …   Black's law dictionary

  • Michael Loch McGurk — For the Northern Ireland politician, see Michael McGurk. Michael Loch McGurk (1958[1] – 3 September 2009), an Australian businessman, was murdered by a single gunshot to his head outside his Cremorne, Sydney family home. Police are currently… …   Wikipedia

  • Welsh mortgage — a special kind of mortgage, which has been used quite commonly in Ireland, under which the mortgagee takes possession of land as security for a loan. The mortgagee takes the rents and profits from the land in place of interest. The mortgagor has… …   Law dictionary

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”