Case studies

"It gives us a really broad coverage of the law, as well as the specialist areas we have to deal with: contracting, procurement, employment law, governance. I've found some fairly obscure case law on LexisLibrary, very quickly."

Walsall Council

Access all 56 documents on Mortgagee

GET ACCESS NOW

GLOSSARY

Mortgagee definition

Published by a LexisNexis Banking & Finance expert

What does Mortgagee mean?

The person a mortgage is granted to.

Speed up all aspects of your legal work with tools that help you to work faster and smarter. Win cases, close deals and grow your business–all whilst saving time and reducing risk.

Option agreements—acting for the buyer—checklist

Option agreements—acting for the buyer—checklist Call or put option? In a 'call' option the buyer will have control in that it may call for a transfer of the property. A 'put' option gives the seller control in that it can require the buyer to take a transfer of the property and therefore the buyer should be especially vigilant in ensuring that the terms for the transfer (particularly those relating to valuation and, if appropriate, insurance) are as favourable as possible. Seller's charges If the property is already mortgaged at the date of grant of the option agreement, there is a risk that the mortgagee may overreach the option by exercising its power of sale. Therefore ensure that the mortgagee either: • joins into the agreement (this is rare in practice), or • provides written consent to the granting of the option In either case, the mortgagee should confirm that if the buyer exercises the option it will acquire the property free from the charge or, if the mortgagee...

Land registration—first registrations at HM Land Registry—checklist

Land registration—first registrations at HM Land Registry—checklist This Checklist looks at HM Land Registry’s requirements for first registration of title upon the transfer of a freehold or leasehold estate, the grant of a new lease or the creation of a first legal mortgage. It covers which dispositions trigger first registration, the time period for registration, the consequences for failing to apply for first registration and the information that must be provided to HM Land Registry with the application. Which dispositions trigger first registration? The following dispositions will trigger compulsory first registration. Transfers of unregistered freehold and leasehold estates The transfer or assignment of: • an unregistered freehold estate in land, and • an unregistered leasehold estate in land which has more than seven years left to run at the date of assignment for valuable or other consideration, by way of gift or in pursuance of an order of any court. Note that an instrument at a negative value is included as being for valuable or other consideration. The...

Discover our 2 Checklists on Mortgagee

Mortgages

Lenders will often take security as support for a borrower's obligations under a loan. Taking security means that they will have certain rights over the secured assets in the event that the borrower fails to repay the loan. A mortgage is one of the four types of security recognised under English law; for more information on these, see Practice Note: Types of security. This Practice Note explains:•what a mortgage is•the difference between a mortgage and a charge•the differences between a legal mortgage and an equitable mortgage•the types of assets that can be secured by way of mortgage, and•how assignments by way of security fit in with mortgagesPractice Note: Introductory guide to security in a lending transaction provides more general information on security in loan transactions. It covers what security is and why lenders take security, who can provide security and over what types of assets, the types of security that can be given under English law, why and how security is perfected and the steps that lenders can take to...

Property—enquiries before contract

Property—enquiries before contract This Practice Note looks at the role of enquiries in the due diligence process and what to do when faced with preliminary enquiries in commercial property transactions. What are enquiries before contract? Enquiries before contract (also called pre-contract enquiries or preliminary enquiries) play a part in various scenarios; eg they are raised by a buyer on the acquisition of freehold or leasehold land, by a tenant before the grant of a new lease, by a mortgagee before taking a charge over land or by a landlord before accepting a surrender of a lease. For simplicity throughout the remainder of this Practice Note, reference will be made to ‘seller’ and’ buyer’ although this can include landlord and tenant or mortgagor and mortgagee as appropriate. Enquiries before contract take the form of questions asked directly of the seller by the buyer (although almost invariably with their respective legal advisers acting as intermediaries). Although enquiries before contract are often treated as a stand-alone part of the...

Discover our 20 Practice Notes on Mortgagee

Precedent s 106A deed of variation/supplemental agreement

Precedent s 106A deed of variation/supplemental agreement AGREEMENT relating to Section 106 and 106A of the Town and Country Planning Act 1990 [and [insert other legislation]] in relation to the development at [insert address] This Agreement is made on [insert date] Parties 1 [insert name], of [insert address] ("Council"); 2 [insert name], of [insert address] (“County Council”); 3 [insert name], of [insert address] (“Owner”); and 4 [ Additional parties as necessary eg landlord, mortgagee, option holder etc. ] ("[insert additional parties as necessary eg landlord, mortgagee, option holder etc] "). Background (A) The Council is the local planning authority for the purposes of s 106 and s 106A of the 1990 Act for the area within which the Land is situated and is capable of enforcing the obligations in the Original Agreement. (B) The County Council is the local highway authority for the area within which the Land is situated and is capable of enforcing the obligations in the Original Agreement. (C) [Recite ownership details...

Transfer of part of a registered lease

Transfer of part of a registered lease Precedent transfer This precedent gives suggested wording for Form TP1 in the rare circumstances of a leasehold assignment of part. Assignments of part are unpopular with landlords because the consequent fragmentation of the tenant covenants inevitably makes it harder and costlier for the landlord to collect rent, enforce the covenants and otherwise manage the property. See Practice Note: Assignment of part of the demised premises. Form TP1 must be used where the assignment is of part of a registered lease, or of part of an unregistered lease that has more than seven years left to run. An adaptable Word version of the precedent form TP1 can be downloaded, saved or printed from this link: Apportionments On an assignment of part, the tenant and assignee should agree to apportion: • the rent payable under the lease; • any other amounts payable under the lease (insurance, service charge etc); and • the responsibility for any other covenants that are non-attributable to the various parts...

Dive into our 36 Precedents related to Mortgagee