Assertion: mortgage | /r/HasAspect | the effect of a deed
Facets:
value: under title theory
type: OTHER
Source sentences:
text: Under title theory, a mortgage has the effect of a deed passing legal title, though conditionally, of the mortgaged property to the mortgagee (the lender in a loan agreement being secured by the mortgage), with so-called "equitable title" (which is really equity of redemption) being retained by the mortgagor (the borrower in the loan).