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LSDefine

Simple English definitions for legal terms

deposit of title deeds

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A quick definition of deposit of title deeds:

Deposit of Title Deeds: When someone borrows money, they may need to give something valuable as security to the lender. If the borrower owns a piece of land or property, they can pledge it as security by giving the lender the title-deed to the property. This means that if the borrower cannot repay the loan, the lender can take ownership of the property.

A more thorough explanation:

A deposit of title deeds is a type of security for a loan. It involves pledging real property by giving the lender the title-deed to the land.

John wants to borrow money from a bank to start a business. He owns a piece of land that is worth a lot of money, but he doesn't have enough cash to use as collateral for the loan. Instead, he decides to use the land as security by depositing the title deeds with the bank. This means that if John fails to repay the loan, the bank can take possession of the land.

Another example could be a homeowner who wants to take out a second mortgage on their property. They may deposit the title deeds with the lender as security for the loan.

These examples illustrate how a deposit of title deeds can be used as a way to secure a loan. By pledging real property, the borrower is giving the lender a valuable asset that can be used to recover the loan if necessary.

deposition subpoena duces tecum | depositor

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General

General chat about the legal profession.
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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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