| Commentary

39 Introduction

| Commentary

3: MORTGAGES

39 Introduction

A mortgage in its simplest form operates so as to transfer title in the asset or an interest in the asset to the mortgagee as security for a debt, subject to the right of the mortgagor to redeem the mortgage on payment of the mortgage debt1. Aircraft mortgages are a popular way for the owner of the aircraft to secure its obligations to a bank, financial institution or other lender. Under the law of England and Wales, aircraft mortgages are governed by the provisions of the general law as to mortgages of and charges over chattels2. There

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