TERMIUM Plus®

The Government of Canada’s terminology and linguistic data bank.

MORTGAGE LIABILITY [4 records]

Record 1 2015-09-17

English

Subject field(s)
  • PAJLO
  • Law of Security
CONT

A lender could take a "collateral charge" over their house(this is a legal liability that gives the lender the same power as if they had a full mortgage) and if the lender ever had to re-possess your house and was unable to cover the value of the mortgage on sale, they could then re-possess your parents house to recover their loss.

French

Domaine(s)
  • PAJLO
  • Droit des sûretés
OBS

charge accessoire : terme normalisé par le Comité de normalisation, Promotion de l'accès à la justice dans les deux langues officielles (PAJLO).

Spanish

Save record 1

Record 2 2012-02-13

English

Subject field(s)
  • Loans
DEF

Loan made on real estate collateral, urban or rural, residential or business, in which a mortgage is given to secure payment of principal and interest.

OBS

mortgage loan : term and text reproduced from The Encyclopedia of Banking and Finance, Tenth Edition(1993), by Glenn G. Munn, F. L. Garcia and Charles J. Woelfel, with the permission of the copyright holder, The McGraw-Hill Companies Inc. In no event shall McGraw-Hill have any liability to any party for special, incidental, tort, or consequential damages arising out of or in connection with the use of this material.

French

Domaine(s)
  • Prêts et emprunts
DEF

Prêt garanti par une hypothèque.

OBS

On trouve souvent l'emploi familier du mot «hypothèque» en ce sens, principalement au Canada; rigoureusement, l'hypothèque constitue le droit accordé au créancier sur un bien de l'emprunteur pour garantir le paiement de l'emprunt.

OBS

Du point de vue de la personne qui avance les fonds, il s'agit d'un prêt. Du point de vue de celle qui les reçoit, il s'agit d'un emprunt.

Spanish

Campo(s) temático(s)
  • Préstamos
Save record 2

Record 3 2006-10-31

English

Subject field(s)
  • Private Law
  • Legal Documents
DEF

A clause in legal document which excuses a party from liability for its acts other than those caused by willful neglect or gross negligence.

CONT

exculpatory clause : A provision in a Mortgage allowing the borrower to surrender the property to the lender without personal liability for the loan.

French

Domaine(s)
  • Droit privé
  • Documents juridiques

Spanish

Save record 3

Record 4 1998-12-10

English

Subject field(s)
  • Loans
  • Real Estate
DEF

A mortgage in which the borrower agrees to share with the lender a sizable percent (often 30% to 50%) of the appreciation in the property’s value when the borrower sells or transfers the property, or after a specified number of years. Such mortgages often have relatively low interest rates.

OBS

shared appreciation mortgage : term and text reproduced from The Encyclopedia of Banking and Finance, Tenth Edition(1993), by Glenn G. Munn, F. L. Garcia and Charles J. Woelfel, with the permission of the copyright holder, The McGraw-Hill Companies Inc. In no event shall McGraw-Hill have any liability to any party for special, incidental, tort, or consequential damages arising out of or in connection with the use of this material.

French

Domaine(s)
  • Prêts et emprunts
  • Immobilier

Spanish

Save record 4

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