Where a partnership mortgages property, the mortgage prima facie only secures advances made before any subsequent alteration in the partnership, whether by the retirement or the admission of a partner or partners or by both1. If, however, the mortgage was not made by deed2, its scope may be enlarged or restricted, after an alteration in the partnership, by an oral agreement with the creditor, whether express or implied
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and millions of others like it, sign-in to LexisLibrary or register for a free trial.
EXISTING USER? SIGN IN
TAKE A FREE TRIAL
0330 161 1234