This document consists of draft Deed of Usufructuary Mortgage to be executed between the borrower and the lender for securing the amount borrowed by the borrower, in editable word format making it handy to use and save your time and effort
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This document consists of draft Deed of Usufructuary Mortgage to be executed between the borrower and the lender for securing the amount borrowed by the borrower, in editable word format making it handy to use and save your time and effort
Usufructuary Mortgage
Where the mortgagor delivers possession, or expressly or by implication binds himself to deliver possession of the mortgaged property to the mortgagee and authorizes him to retain such possession until payment of the mortgage money, and to receive the rents and profits accruing from the property or any part of such rents and profits and to appropriate the same in lieu of interest or partly in payment of the mortgage money, partly in lieu of interest and partly in payment of the mortgage money, the transaction is called a usufructuary mortgage and the mortgagee a usufructuary mortgagee.
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