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Free Legal Advice Philippines » FREE LEGAL ADVICE » PROPERTY » can person holding title deeds as collateral for a loan,rent out the property til loan is repaid?

can person holding title deeds as collateral for a loan,rent out the property til loan is repaid?

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pluto


Arresto Menor

Does property owner still have all legal rights over use,when Title Deeds are held as loan collateral by the lender

Lunkan


Reclusion Perpetua

I don't know what the law say, when it ISN'T told in the loan agreement,

but I know it's rather common the loan GIVER get the right to use the property when it's collateral for a loan for something ELSE than the property itself as a part of the "interest". That's why such better be decided as a part of the agreement, when the loan starts...

But it would be very odd if the loan TAKER wouldn't get the user right, when the loan is to buy the property/thing, which it's collateral for, because then it wouldn't be any idea for him to buy something, which he isn't allowed to use until the loan is paid anyway Laughing 

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Free Legal Advice Philippines » FREE LEGAL ADVICE » PROPERTY » can person holding title deeds as collateral for a loan,rent out the property til loan is repaid?

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