Definition : Immovable hypothec (conventional) - Mortgage loan

Loan of money guaranteed by a mortgage published on an immovable, which is usually granted by a financial institution (the creditor) to allow a buyer (the debtor) to acquire an immovable (e.g. a condominium).

 WHAT TO KEEP IN MIND! The grantor of the hypothec may not be the borrower under the terms and conditions of the loan, in such cases it is a hypothecary suretyship.

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