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Business English Exercises

Mortgage Law

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Home > Teaching Business English > Business English Lessons, Advanced Level # 127
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A mortgage involves the transfer of an interest in land as security for a loan or other ..........

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Normally, a mortgage is paid in ......... that include both interest and a payment on the principle amount that was borrowed.

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Failure to make payments results in the ......... of the mortgage.

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This allows the mortgagee to declare that the entire mortgage debt is due and payable immediately, accomplished through an acceleration ......... in the mortgage.

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501 Business English Exercises — Printable, photocopiable.
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In the case of failure to pay the debt, the most common processes to effect seizure and sale are court ......... or grants of power to the mortgagee to sell the property.

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Under the title theory, title to the security interest ......... with the mortgagee.

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Most states, however, follow the lien theory, under which the legal title ......... with the mortgagor.

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Finally, the intermediate theory applies the lien theory until there is a ......... on the mortgage, whereupon the title theory applies.

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If the mortgage is not the only lien on the property, then state law determines the ......... of the property interests.

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The Uniform Commercial Code governs conflicts between mortgages on real property and liens on ......... (personal property attached to a piece of real estate).

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Business English Practice Exercises Business English Tests — several topics are covered: office matters, job applications, computer English, money expressions, business law, operations management, retail marketing, e-commerce, accounting terms, contracts and agreements, commercial correspondence, etc.
You will be exposed to a wealth of authentic sample sentences that include a great variety of themes. This compact Business English Test Package is the only printable English test collection currently available on the Internet. It contains 501 Business English Exercises (10 questions per test plus answer keys).  Get your unique Business English Practice Exercises now!

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