законова ипотека

English translation: legal mortgage

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Bulgarian term or phrase:законова ипотека
English translation:legal mortgage
Entered by: Kalinka Hristova

22:22 Feb 16, 2017
Bulgarian to English translations [PRO]
Bus/Financial - Real Estate / mortgaging
Bulgarian term or phrase: законова ипотека
Законовата ипотека е най-често срещаният вариант при покупка на ново жилище. Купувачът превежда своето самоучастие по сделката, а продавачът прехвърля имота на купувача. В нотариалния акт се вписва, че остатъкът от дължимата сума ще бъде внесен от банката-кредитор и се изготвя молба до съдия по вписванията за вписване на законна ипотека.
Ana_N
Bulgaria
Local time: 19:45
legal mortgage
Explanation:
http://uk.practicallaw.com/8-107-6863?service=finance
A legal mortgage is the most secure and comprehensive form of security interest. It transfers legal title to the Mortgagee ( www.practicallaw.com/6-107-6864) and prevents the mortgagor ( www.practicallaw.com/3-107-6865) from dealing with the mortgaged asset while it is subject to the mortgage.

http://www.lectlaw.com/def2/m040.htm
A legal mortgage of lands may be described to be a conveyance of lands, by a debtor to his creditor, as a pledge and security for the repayment of a sum of money borrowed, or performance of a covenant with a proviso, that such conveyance shall be void on payment of the money and interest on a certain day, or the performance of such covenant by the time appointed, by which the conveyance of the land becomes absolute at law, yet the, mortgagor has an equity of redemption, that is, a right in equity on the performance of the agreement within a reasonable time, to call for a re-conveyance of the land. It is an universal rule in equity that once a mortgage, always a mortgage -- every attempt, therefore, to defeat the equity of redemption, must fail.
Selected response from:

Kalinka Hristova
Bulgaria
Local time: 19:45
Grading comment
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +1legal mortgage
Kalinka Hristova


  

Answers


15 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
legal mortgage


Explanation:
http://uk.practicallaw.com/8-107-6863?service=finance
A legal mortgage is the most secure and comprehensive form of security interest. It transfers legal title to the Mortgagee ( www.practicallaw.com/6-107-6864) and prevents the mortgagor ( www.practicallaw.com/3-107-6865) from dealing with the mortgaged asset while it is subject to the mortgage.

http://www.lectlaw.com/def2/m040.htm
A legal mortgage of lands may be described to be a conveyance of lands, by a debtor to his creditor, as a pledge and security for the repayment of a sum of money borrowed, or performance of a covenant with a proviso, that such conveyance shall be void on payment of the money and interest on a certain day, or the performance of such covenant by the time appointed, by which the conveyance of the land becomes absolute at law, yet the, mortgagor has an equity of redemption, that is, a right in equity on the performance of the agreement within a reasonable time, to call for a re-conveyance of the land. It is an universal rule in equity that once a mortgage, always a mortgage -- every attempt, therefore, to defeat the equity of redemption, must fail.

Kalinka Hristova
Bulgaria
Local time: 19:45
Specializes in field
Native speaker of: Native in BulgarianBulgarian
PRO pts in category: 16
Notes to answerer
Asker: Много благодаря за бързата реакция!


Peer comments on this answer (and responses from the answerer)
agree  zenithmaster
6 hrs
  -> Благодаря!
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