foreclosure on a land mortgage oor Spaans
foreclosure on a land mortgage
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Other suggested provisions on the loan and mortgage document, especially if you are the lender, would be a prohibition to sell the land without the creditor’s authorization –the contrary can lead to a situation in which multiple additional parties must be served to trigger foreclosure and can compromise effective collection-; as well as to automatically include any future improvements on the land as part of the security and the requirement of sufficient insurance coverage for any construction on it.
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