Normally, real property transaction involves the sale of real property under contract and is usually consummated by the delivery of an indenture or deed. Indenture definition of indenture by the free dictionary. Indenture of mortgage, deed of trust, security agreement. In bankruptcy law, for example, it is a mortgage or deed of trust that constitutes a claim against a debtor.
First mortgage indenture means a first mortgage indenture pursuant to which the borrower or any subsidiary of the borrower may issue bonds, notes or similar instruments secured by a lien on all or substantially all of the borrowers or such subsidiarys fixed assets, as the case may be. Deed or mortgage document signed executed by two parties such as a seller and a buyer as opposed to a deed poll which is executed generally by only one party. Indenture of trust law and legal definition uslegal, inc. Indenture is a term that is subject to different meanings. Indenture, title registry, title certificate what do. Define indenture by websters dictionary, wordnet lexical database, dictionary of computing, legal. First mortgage indenture legal definition of first. You can complete the translation of indenture given by the englishfrench collins dictionary with other dictionaries such as. In bankruptcy law, for example, it is a mortgage or deed of. For this reason, it is important to understand that a. Indenture definition of indenture by merriamwebster. The bond indenture also includes the details of the rights of ownership as well as the rights of the bondholder to receive interest payments and principle payments in the future.
What indenture means in marathi, indenture meaning in marathi, indenture definition, examples and pronunciation of indenture in marathi language. In case of default by the mortgagor, mortgagee can take possession of the mortgaged property for realisation of the dues or loan amount granted to the mortgagor. Traditionally, these documents featured indented sides, as indicated by their name. Indenture of mortgage and security agreement trumps castle. Second amended and restated indenture of mortgage and deed of. An indenture is a written contract between a bond issuer and bond holder that is proof of the bond issuers indebtedness and specifies the terms of the arrangement, including the maturity date, the interest rate, whether the bond is convertible to common stock, and, if so, the price or ratio of the conversion. Supplemental mortgage indenture legal definition of. English to marathi dictionary marathi to english dictionary read text browse words favorite words learn words vocabulary games. Mortgage is a transfer of interest in a specific property to the mortgagee by the mortgagor.
Dictionary grammar blog school scrabble thesaurus translator quiz more resources more from collins. Mortgage indenture legal definition of mortgage indenture by law. Indenture definition and meaning collins english dictionary. At its simplest, an indenture is an agreement that declares benefits and obligations between two or more parties. An indenture is a legal contract that reflects or covers a debt or purchase obligation. To fully understand the difference between a mortgage and a deed of trust, you must first understand promissory notes. Indenture of mortgage and deed of trust dated as of april. Whats the difference between a mortgage and deed of trust. A contract which binds a person to work for another, under specified conditions, for a specified time often as. Indenture of trust law and legal definition indenture of trust is a document containing the terms and conditions governing a trustees conduct and the trust beneficiaries rights. The most common usage of indenture appears in the bond market. Homebuyers usually think of the mortgage or deed of trust as the contract theyre signing with the lender to borrow money to purchase a house. The certificates are limited obligations of the issuer secured by the revenues and assets pledged under the indenture that primarily consist of ginnie mae gnma and a small amount of fannie mae fnma mortgage backed securities mbs, which provide an unconditional guarantee of full and timely payment on the underlying mortgages. The indenture is the legal document that is ultimately referred to when there is a conflict between issuers and bondholders.
A trust indenture is an agreement in a bond contract made between a bond issuer and a trustee that represents the bondholders interests by highlighting the rules and responsibilities that each party must adhere to. Indenture of mortgage and security agreement trumps. Affiliate has the meaning set forth in section 9 of the credit agreement. In the context of real property, it refers to a type of real property deed in which two parties agree to continuing mutual obligations. Indenture of second mortgage property law learning. Indenture of mortgage and security agreement trumps castle associates lp and deutsche bank trust co. Tax certificate shall mean the tax exemption certificate and agreement, dated as of the date of delivery of the bonds, among the issuer, the. One party may agree to maintain the property, while the other agrees to make periodic payments. Mortgage participation certificates are issued to represent the proportionate share of creditors on the collateral pool. Americas and other business contracts, forms and agreeements. It may also indicate where the income stream for the bond is derived from. Indenture of mortgage, deed of trust, security agreement, fixture filing, financing statement and assignment of rents and leases for maxxam inc sample agreements, legal documents, and contracts from realdealdocs. Trust indenture legal definition merriamwebster law. Oster company, a rhode island corporation having offices at.
An indenture is a written instrument used to convey an interest in real property. Looking for online definition of indenture or what indenture stands for. Indenture article about indenture by the free dictionary. What is the difference between a registered mortgage and. Indenture definition, a deed or agreement executed in two or more copies with edges correspondingly indented as a means of identification. Supplemental indenture shall mean the thirtysixth supplemental indenture, dated as of august 1, 2016, supplementing the mortgage and providing for the issuance of the first mortgage bonds. Many earned passage to the british colonies by indenturing, or selling, themselves to a master for a period of seven yearsthey were called indentured laborers. A mortgage trust indenture mti maximizes loanable amounts against property offered by a borrower as collateral for a loan by allowing multiple creditors to have proportionate participation in the loan. Typically, these mortgage indentures create a lien on substantially all of the utilitys real property and equipment, which lien automatically spreads to. Mortgage trust indenture landbank trust banking group holds a pool of properties, real estate andor chattel mortgage in behalf of creditors. This indenture of lease the lease made and entered into as of the 1st day of march, 1995 by and between the lares group ii, a rhode island limited partnership having offices at 333 strawberry field road, warwick, rhode island hereinafter referred to as landlord and a. Indenture refers to a legal and binding agreement, contract, or document between two or more parties. Indenture definition of indenture by websters online.
It is an agreement in the bond contract made between a bond issuer and a trustee that represents the bondholders interests by highlighting the rules and. Many investorowned utilities in the united states rely upon a unique form of corporate financingthe openended mortgage indenture. Under ordinary circumstances,only the seller need sign a deed,because only the seller has any obligations regarding transferring good title. Deed or mortgage document signed executed by two parties such as a seller and a buyer as opposed to a deed poll which is executed generally by only one. With reverso you can find the english translation, definition or synonym for indenture and thousands of other words. A written agreement between the issuer of a bond and hisher bondholders, usually specifying interest rate, maturity date, convertibility, and other terms. The term indenture primarily describes secured contracts and has several applications in u. In bankruptcy law, for example, it is a mortgage or. Trust indentures the term indenture means any mortgage, deed of trust, trust or other indenture, or similar instrument or. Indenture wex us law lii legal information institute. Indenture meaning in the cambridge english dictionary. The terms defined in this article have the meanings assigned to them in this article and include the plural as well as the singular. Trust indenture definition a trust indenture is an agreement used during the signing of a bond contract between a bond issuer and a trustee that documents the terms and conditions governing the trustees conduct as well as the trust beneficiaries rights. A bond indenture is a legal document or contract between the bond issuer and the bondholder that records the obligations of the bond issuer and benefits owed to the bondholder.
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