Equitable mortgages – Property in Singapore for sale
In an equitable mortgage, there is no transfer of the title to the mortgagee. An equitable mortgage is basically a mortgage of the property by deposit of the title of the property. The mortgagee is secured by taking possession of all the original title documents of the property and by the mortgagor signing an agreement or a memorandum agreeing to deposit the title of the property with the mortgagee as security for the repayment of the loan. It gives the mortgagee the right to foreclose on the property, sell it, or appoint a receiver in case of non-payment on condition that a Court’s order is obtained. Property in Singapore for sale.
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