Deed of Mortgage
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DEED OF MORTGAGE BY CONDITIONAL SALE
This is a precedent of Deed of Mortgage by Conditional Sale where there occurs an ostensible sale, which is converted into absolute sale in the event that the Seller/Mortgagor is unable to repay the loan/Mortgage Debt to the Purchaser/Mortgagee.
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CONVEYANCE OF IMMOVABLE PROPERTY SUBJECT TO EXISTING MORTGAGE
The property is already mortgaged. The Vendor is unable to redeem the mortgage. However, the Purchaser is willing to buy the property subject to existing mortgage. This is the precedent of Conveyance of an immovable property in favour of the Purchasers who is willing to buy subject to the existing mortgage.
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