Idaho Code 45-904 – Transfers Deemed Mortgages
Current as of: 2023 | Check for updates
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Terms Used In Idaho Code 45-904
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- person: includes a corporation as well as a natural person;
Idaho Code 73-114Property: includes both real and personal property. See Idaho Code 73-114 Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.
Every transfer of an interest in property other than in trust to secure the performance of any obligation of the trustor or other person named in the trust instrument, made only as a security for the performance of another act, is to be deemed a mortgage.