Legal Aspects
Mortgages may be legal or equitable. Furthermore, a mortgage may take one of a number of different legal structures, the availability of which will depend on the jurisdiction under which the mortgage is made. Common law jurisdictions have evolved two main forms of mortgage: the mortgage by demise and the mortgage by legal charge.
Read more about this topic: Mortgage Law
Famous quotes containing the words legal and/or aspects:
“We should stop looking to law to provide the final answer.... Law cannot save us from ourselves.... We have to go out and try to accomplish our goals and resolve disagreements by doing what we think is right. That energy and resourcefulness, not millions of legal cubicles, is what was great about America. Let judgment and personal conviction be important again.”
—Philip K. Howard, U.S. lawyer. The Death of Common Sense: How Law Is Suffocating America, pp. 186-87, Random House (1994)
“Grammar is a tricky, inconsistent thing. Being the backbone of speech and writing, it should, we think, be eminently logical, make perfect sense, like the human skeleton. But, of course, the skeleton is arbitrary, too. Why twelve pairs of ribs rather than eleven or thirteen? Why thirty-two teeth? It has something to do with evolution and functionalism—but only sometimes, not always. So there are aspects of grammar that make good, logical sense, and others that do not.”
—John Simon (b. 1925)