mortgagee in possession means a mortgagee who in right of a mortgage has entered into and is in possession of the mortgaged property.
mortgagee in possession means a person or body which has entered into a mortgage in respect of the Dwelling and has taken action following a default by the borrower in respect of the repayments due under that mortgage and shall include any receiver appointed by any such mortgagee
mortgagee in possession means a mortgagee that, upon default of the borrower, has taken over control and/or occupancy of a property in order to collect income from the property and/or to prepare the property for foreclosure.
More Definitions of mortgagee in possession
mortgagee in possession means a person or body which has entered into a mortgage in respect of an affordable dwelling constructed on the land and has taken action following a default by the borrower in respect of the repayment due under that mortgage. The clause allows the release of affordable housing occupancy restrictions in favour of the mortgagee.
mortgagee in possession means a mortgagee who, in right of the mortgage, has entered into and is in possession of the mortgaged property, and “mortgaged property in possession of the mortgagee” shall be construed accordingly;
mortgagee in possession. Means a mortgagee of a Dwelling or the Site who has entered into possession of a Dwelling or the Site or who has appointed a receiver or administrative receiver under the security or has otherwise exercised its power of sale.
mortgagee in possession means any person who iseither
mortgagee in possession. Status. Neither the assignment of Leases and Rents contained in this Deed of Trust, nor the exercise by Beneficiary of any of its rights or remedies under this Deed of Trust shall be deemed to make Beneficiary a “mortgagee-in-possession” or otherwise liable in any manner with respect to the Mortgaged Property, unless Beneficiary, in person or by agent, assumes actual possession thereof. Nor shall appointment of a receiver for the Mortgaged Property by any court at the request of Beneficiary or by agreement with Grantor, or the entering into possession of the Mortgaged Property by such receiver, be deemed to make Beneficiary a “mortgagee-in-possession” or otherwise liable in any manner with respect to the Mortgaged Property.
mortgagee in possession a person or body which has entered into a mortgage in respect of the Site and has taken action following a default by the borrower in respect of the repayments due under that mortgage and shall include any receiver appointed by any such mortgagee.
mortgagee in possession means a mortgagee or chargee or any other body