Securing debt repayment: Significance of mortgages as security for debt settlement in Ghana
A mortgage is a creation of an interest in (originally the conveyance of) real or personal property by a debtor/borrower (the mortgagor) to a creditor/lender (the mortgagee) as security for a monetary debt on the condition that the interest shall be extinguished on payment of the debt within a certain period.
It is a contractual agreement in…