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LSDefine

Simple English definitions for legal terms

Welsh mortgage

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A quick definition of Welsh mortgage:

A Welsh mortgage is a type of loan where the borrower transfers ownership of their property to the lender as security for the debt. The lender collects rent from the property to pay off the interest, and any extra money goes towards reducing the principal. The borrower can redeem the property at any time, and the lender cannot force them to pay back the loan or foreclose on the property. It was commonly used in Wales and Ireland, but is not used much anymore.

A more thorough explanation:

A Welsh mortgage is a type of mortgage that was once common in Wales and Ireland. It involves the transfer of title and possession of the property to the mortgagee, who takes the rents and profits and applies them to the interest. There is often a stipulation that any surplus will reduce the principal. The mortgagor is not obligated to pay the debt and cannot be compelled to redeem, but may redeem at any time. The mortgagee cannot foreclose the right to redeem because no time is fixed for payment.

Example: John owns a property in Wales and takes out a Welsh mortgage with a lender. He transfers the title and possession of the property to the lender, who takes the rents and profits and applies them to the interest. John is not obligated to pay the debt and can redeem the property at any time.

This example illustrates how a Welsh mortgage works, where the mortgagor transfers the title and possession of the property to the mortgagee, who takes the rents and profits and applies them to the interest. The mortgagor is not obligated to pay the debt and can redeem the property at any time.

welshing | wend

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1a2b3c4d26z
11:15
In this analogy is the LSAT the NFL combine
JumpySubsequentDolphin
11:16
I told my family I won’t get any decisions until 2025 so they wouldn’t bombard me hahah
no i think there should be a Law School combine with all new drills except there is still the 40 yard dash
and a sub 4.5 gets you into any t14
LSAT can be one of the drills
letsseehowitgoesnow
11:17
so washu only called one person
So all the D1 athletes will get into a T-14. What else is new?
@TheAdoptedOne: that is called "Dean Poker Night" lol
@ClockworkBlue: I feel like most people could train for the 40 for the same amount of time as they do the LSAT and get close to sub 5 which would be equivalent to a 167+
this is like the schizophrenic posts JJK tik tok be putting out
powerscaling Law School deans up next
11:19
Election Day election day
Write in Dean Z vote
11:20
Saw a guy that wrote in Biden and he said no retirement for you buddy
1a2b3c4d26z
11:20
@ClockworkBlue: god I hope that's true
if the country was run the same as Mich Law it would be a better place
Imagine if election night was run by an adcom? Like, "yep, we could get the results Friday, or June 2025."
imagine if it was like Berkley applications
1a2b3c4d26z
11:22
Election status: Complete
1a2b3c4d26z
11:22
For months
triplethread
11:23
erection day
soapy
11:23
Shoutout to Robinhood's election bet not resolving until January
triplethread
11:23
is anyone else like certain that trump will win
ambitiouslizard
11:23
he aint winning
triplethread
11:23
i like being a pessimist
ambitiouslizard
11:24
he lost his re-election, why would he win this one?
1a2b3c4d26z
11:25
I have no idea why people have so much beef w berkeley's app
I've been reading a bit about "herding," which is this idea that pollsters are making the race look tied so they look right no matter who wins.
1a2b3c4d26z
11:26
Like... it's a more involved app but you don't have to do it? They're clearly trying to have some self-selection go on
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