FOLIO Ontology

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Identification

IRI:
https://folio.openlegalstandard.org/R8MAjhZptmRQFq6dJ17lxRB
Label Mortgage Right
Preferred Label N/A
Identifier N/A
Alternative Labels

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Definition

Mortgage Right refers to the secured interest a lender holds in a property as collateral for a loan extended to a borrower. This legal right grants the lender the authority to seize and sell the property through foreclosure if the borrower defaults on the loan, subject to specific procedures and regulations set forth by law

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