Tacking (law)
id:
tacking-law-236-521439
title:
Tacking (law)
text:
Tacking is a legal concept arising under the common law relating to competing priorities between two or more security interests arising over the same asset. The concept is best illustrated by way of example. Bank A lends a first advance to the borrower, which is secured by a mortgage over the borrower's property. The mortgage is expressed to secure this advance and any future advances.
Bank B subsequently lends more money to the borrower and takes a second ranking mortgage over the same property
brand slug:
wiki
category slug:
encyclopedia
description:
original url:
https://en.wikipedia.org/wiki/Tacking_(law)
date created:
date modified:
2024-03-20T18:35:17Z
main entity:
{"identifier":"Q7673928","url":"https://www.wikidata.org/entity/Q7673928"}
image:
fields total:
13
integrity:
13