ABSTRACT
A mortgage is a conveyance of land as a security for the payment of debt or discharge of some other obligation. It is quite common for people to borrow money from a bank to buy properties. When money is borrowed by giving the house as a security for the debt, the transaction is called a mortgage. A mortgage is a legal interest. There are two parties in a mortgage, namely the mortgagor or borrower and mortgagee or the lender. This chapter will discuss the essential characteristics of a mortgage, different types of mortgages that can be created, rights and remedies available to the mortgagor and mortgagee, and mortgage fraud and professional conduct.
