New Hampshire Revised Statutes 479:5 – Present Agreement
Current as of: 2023 | Check for updates
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Terms Used In New Hampshire Revised Statutes 479:5
- Contract: A legal written agreement that becomes binding when signed.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
A mortgage or deed of trust which purports to be given in whole or in part as security for notes or bonds thereafter to be issued or other expectant future obligations and which states the nature of the obligations designed to be secured by it, the amount thereof presently to be issued, if any, and the limitations, if any, contained in the mortgage or deed of trust or in a contract referred to in the mortgage or deed of trust with respect to the total or maximum amount thereof ultimately to be issued shall become a lawful security for the same as, when and to the extent that they shall actually be issued or come into existence as valid obligations of the mortgagor.