What Is The Difference Between Charge And Mortgage?


3 Answers

Charles  Bosse Profile
Charles Bosse answered

A mortgage is a conveyance of property, subject to a right of redemption, whereas a charge only gives a right to payment out of a particular immovable property without transferring it. A mortgage can be enforced against a purchaser for value whether with or without notice but a charge cannot. 

Chips Ters Profile
Chips Ters answered

Hello everyone, if you want to get a mortgage and make a down payment on the purchase of a house, I recommend that you read FitMyMoney recommendations. There are several ways to accumulate an amount for a down payment, a lot depends on your lifestyle, your income, how you spend money, how you budget and what kind of home you are looking for.

Anonymous Profile
Anonymous answered
You can say mortgage is fixed charge on specific property by a single party.
While charge include both fixed and floating charge.
Floating charge is on pool of Assets or kind of assets like inventory subject to fluctuation in value. Priorities are given in charge as multiple parties' interest is involved.

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