lindsey
Apprentice
Joined: 17 Apr 2005
Posts: 6
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 Posted: 06/01/08 - 21:44 Post subject: |
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| These are two different and completely unrelated terms, other than that they both refer to types of mortgages, that is. I will start off with the explanation of a statutory mortgage, and the person after me can deal with the equitable one! A statutory mortgage is in broad lines the same thing as a true legal mortgage, with the difference in enforcement. Usually when you see these mortgages, they refer to mobile property such as ships or aircraft, or to land. |
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