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Analysis of Land Law

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When a mortgage of the residential property fails to repay his mortgage, he will find it difficult, though not impossible to prevent the mortgage from recovering the property and selling it. Mortgage in English law results from two different influences. Its form and origin belong to the common law. the constraints by which it is made to act as security only, belong to the courts’ equity. The English law states that, if the mortgagor did not pay on the contractual date, he at one time can forfeit the mortgagee and can be sued in contract to for money repayment. Accordingly, the legal right to redeem is very limited. The mortgagee’s right to possess the residential property is exactly what is expected. By virtue of how legal mortgages are created, the lender is considered as having an estate in the residential land, thus he is given an immediate right to possession instantly the ink dries on the mortgage. Notably, the mortgagee may possess the property at any moment even when the mortgage is not in default, basing only on the provision contrary to statute or in the mortgage itself. In the usual course of events, this right will not be exercised by the mortgagee and will be content to permit the mortgagor to continue possessing the property so long as the terms of the mortgage are adhered to and payments are done as agreed. Indeed, the mortgagee could have promised in the contract not to seek possession except if the mortgagor breaches any other obligation or defaults repaying. If this happens, possession may be granted in virtue of the mortgagee’s right, not in virtue of a solution to be requested from the court2. In this context, therefore, the mortgaged property can only be taken and sold based on the procedure of mortgage creation, the rights of the lender, and the rights of the mortgagor. Before a property is taken and sold, the mortgagee and the mortgagor should both consider the way this mortgage was created.