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The mortgage led to a prolonged legal dispute, and in 1706 John's grandson successfully claimed the mortgaged estates, in exchange for giving the Wybergh's £400.
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In 1875, when his son William Phelips (1846 1919) took control of the estate, agricultural rents from what remained of the mortgaged estate were low, and the house was a drain on limited resources.
Mortgaged land was marked by horoi, or mortgage stones, which served as symbols of land enserfment.
The closest they have come is an obscure regulation that prohibits cemeteries on mortgaged land.
It's harder to pull this off when the donated asset is not stock but mortgaged real estate.
To lose a guest-worker job means irreparable harm: destitution, unpayable debt, the loss of mortgaged family land.
The Earl of Dilberne and his countess wife find themselves in the sort of pickle that tends to elicit shrugs of "whatever" from the untitled slobs among us: Nasty turns in the Boer War have sunk the earl's gold-mine investments, imperiling his mortgaged 45-bedroom country estate.
The project is being financed with something called a "synthetic lease," an off-balance-sheet trick in which a corporation has all the practical effects of a heavily mortgaged piece of real estate but tells its shareholders that it neither owns the property nor owes debt on it.
With half a million mortgaged properties in negative equity, many mortgage-holders would be better-off handing their homes over.
You must own the land outright – it cannot be mortgaged – and an amendment needs to be added to property deeds.
Nearly 40% of mortgaged properties are worth less than the mortgage, says Parkus.
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CEO of Professional Science Editing for Scientists @ prosciediting.com