Technical Mortgage Law and Legal Definition
Technical mortgage refers to a conditional conveyance of land designed as security for the payment of money, or performance of some other act. It is a true or a formal mortgage.
A technical mortgage must contain a condition or defeasance making the instrument void upon performance of the condition. A formal expression is not essential. The defeasance must contain proper words to defeat or put an end to the deed of which it is intended to be a defeasance, as that it shall be void or of no force or effect. [Rees v. Hemisphere Publ'g Corp., 11 Conn. Supp. 403 (Conn. Super. Ct. 1943)].
Legal Definition list
Related Legal Terms
- Adjustable Rate Mortgage
- Adjustable Rate Mortgage Caps
- Adjustable Rate Mortgage Loan
- Air Force Technical Applications Center [AFTAC]
- Alternative Mortgage Instruments (ATI)
- Alternative Mortgage Transaction [Banks & Banking]
- Amortized Mortgage
- Anaconda Mortgage
- Area Career and Technical Education School [Education]
- Asset Integrated Mortgage
