large/12344/1000things_1807_librivox_64kb_mp3/1000things_30_fowler_64kb_9
large/12344/1000things_1807_librivox_64kb_mp3/1000things_30_fowler_64kb
English
12344
If the mortgaged property brings a price lower than the face of the mortgage, the mortgagor loses the difference, and has to bear the expense of foreclosure. IF THE MORTGAGED PROPERTY BRINGS A PRICE LOWER THAN THE FACE OF THE MORTGAGE THE MORTGAGER LOSES THE DIFFERENCE AND HAS TO BEAR THE EXPENSE OF FORECLOSURE
another competent to hold property. The one giving the mortgage is called the mortgagee, and the one to whom it is made is known as the mortgagor. A mortgage differs from a bill-of-sale in that the mortgagor cannot obtain ownership of the property mortgaged, unless the amount involved is not paid him at the expiration of the mortgage, or the interest is not met. All mortgages must be registered. Mortgaged property cannot be moved, altered, or changed without the consent of the mortgagor. The property, unless it is land, should be insured, and the insurance policy made payable to the mortgagor in case of loss by fire, but the mortgagor can collect only that part of the insurance money which represents the amount of the mortgage. Should the mortgagee fail to pay interest at the period stated in the mortgage, or should he be unable or refuse to liquidate the mortgage at its expiration, the mortgagor cannot seize the property except by act of law. It must be advertised and sold at auction. E OWNER OF PROPERTY TO ANOTHER COMPETENT TO HOLD PROPERTY THE ONE GIVING THE MORTGAGE IS CALLED THE MORTGAGE AND THE ONE TO WHOM IT IS MADE IS KNOWN AS A MORTGAGER A MORTGAGE DIFFERS FROM A BILL OF SALE IN THAT THE MORTGAGER CANNOT OBTAIN OWNERSHIP OF THE PROPERTY MORTGAGED UNLESS THE AMOUNT INVOLVED IS NOT PAID HIM AT THE EXPIRATION OF THE MORTGAGE OR THE INTEREST IS NOT MET ALL MORTGAGES MUST BE REGISTERED MORTGAGED PROPERTY CANNOT BE MOVED ALTERED OR CHANGED WITHOUT THE CONSENT OF THE MORTGAGER THE PROPERTY UNLESS IT IS LAND SHOULD BE INSURED AND THE INSURANCE POLICY MADE PAYABLE TO THE MORTGAGER IN CASE OF LOSS BY FIRE BUT THE MORTGAGER CAN COLLECT ONLY THAT PART OF THE INSURANCE MONEY WHICH REPRESENTS THE AMOUNT OF THE MORTGAGE SHOULD THE MORTGAGE FAIL TO PAY INTEREST AT THE PERIOD STATED IN THE MORTGAGE OR SHOULD HE BE UNABLE OR REFUSE TO LIQUIDATE THE MORTGAGE AT ITS EXPIRATION THE MORTGAGER CANNOT SEIZE THE PROPERTY EXCEPT BY ACT OF LAW IT MUST BE ADVERTISED AND SOLD AT AUCTION
large/12344/1000things_1807_librivox_64kb_mp3/1000things_30_fowler_64kb
file
download/librilight/large/12344/1000things_1807_librivox_64kb_mp3/1000things_30_fowler_64kb.flac