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Topic: General Questions
Subject: partial purchases
Posted On: 8/26/2003 5:26:20 PM
Posted By: Susan Hamilton
Question:
Could please tell what "hypothecation" means and what does it have to do with partial purchases of notes. Is hypothecation legal?
Thanks for the great service

Susan Hamilton
 
 
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Expert Date Answer

George Rosenberg
 8/28/2003 You are in for a real treat! This very month's NoteWorthy Newsletter has an informative article on hypothecation. The article also discusses partial purchases. If, after you have read the article, you still have a question, please write again.


Wayne Bryson
Western United Life Assurance Co. 		8/26/2003 Hypothecation, means to mortgage or pledge without delivery of the security to the lender. It is legal. When we make a partial purchase of a real estate receivable we always take a full assignment so that we are a holder in due course. We have a better position in the event of foreclosure rather than hypothecating the note or loaning against it.

Wayne Bryson

 

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