The Concentrate Questions and Answers series offers the best preparation for tackling exam questions. Each book includes typical questions, bullet-pointed answer plans and suggested answers, author commentary, and illustrative diagrams and flowcharts. This chapter presents sample exam questions about the law of mortgages. The questions deal with issues such as their creation; clogs on the equity of redemption; the remedies of a mortgagee and protection of the mortgagor; and undue influence. Remedies of a mortgagee where the mortgagor defaults is an area of the law where, over recent years, the courts have had to consider entirely new social circumstances in relation to ‘negative equity’ and mortgage debt.
Chapter
12. Mortgages
Chapter
14. Mortgages
Each Concentrate revision guide is packed with essential information, key cases, revision tips, exam Q&As, and more. Concentrates show you what to expect in a law exam, what examiners are looking for, and how to achieve extra marks. This chapter discusses mortgages. A mortgage is a proprietary interest that can be legal or equitable in status. The equity of redemption encapsulates the rights of a mortgagor and includes the equitable right to redeem and the ability to have certain clauses struck out from a mortgage agreement. The mortgagor of a dwelling house has special legislative protection. Where a mortgage is obtained under undue influence, be it actual or presumed, it may be set aside. The mortgagee has various remedies available to it should the mortgagor fail to meet the mortgage payments, dependent upon the status of the mortgage. A property may be subject to more than one mortgage and where this is the case and the property is sold, proceeds from the sale will be applied in order of priority.
