Tuesday, June 15, 2010

Old Documents - Straits Settlement 1936

Old Penang 1936 Statutory Mortgage documents
This Straits Settlements "Statutory Mortgage" documents was sealed on 13th March 1936

Price: RM3800

Statutory mortgage
Many jurisdictions permit specific assets to be mortgaged without transferring title to the assets to the mortgagee. Principally, statutory mortgages relate to land, registered aircraft and registered ships. Generally speaking, the mortgagee will have the same rights as they would have had under a traditional true legal mortgage, but the manner of enforcement is usually regulated by the statute.

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