What is the difference between endorsed and equitable charge?


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Google, wiki, etc. law & equity.
Equitable charge
A fixed equitable charge confers a right on the secured party to look to (or appropriate) a unusual asset in the event of the debtor's default, which is enforceable by any power of sale or appointment of a receiver. It is probably the most adjectives form of security taken over assets. Technically, a charge (or a "mere" charge) cannot include the power to enforce without judicial intervention, as it does not include the verbs of a property proprietary interest in the charged asset. If a charge includes this right (such as private sale by a receiver), it is really an equitable mortgage (sometimes call charge by way of mortgage). Since little turns on this distinction, the term "charge" is normally used to include an equitable mortgage.


A legal document conferring legal ownership of the mortgagor's (borrowers) estate to the lender, while allowing the mortgagor to remain contained by possession and to use the property with the right to redeem legal ownership, which is call equity of redemption.
Charge or Legal Charge - When an individual takes out a mortgage the bank rob a charge or a legal charge over the property. This means that they are registering the interest surrounded by the property.

An equitable charge is also a non-possessory form of security, and the beneficiary of the charge (the chargee) does not need to retain possession of the charged property. Source(s): http://uk.biz.yahoo.com/glossary_mort2.h…


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