Hypothecation Agreement With Example
Description
How to fill out South Carolina Hypothecation Agreement?
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FAQ
A letter of hypothecation is a document in which the drawer of a bill of exchange agrees that the property shall be sold and the money used to pay the amount owing if it is dishonoured.
The possession of the asset remains with the lender in case of a pledge, while it remains with the borrower in case of hypothecation. Common examples include the gold loan in case of pledge and vehicle loan in case of hypothecation.
Hypothecation means offering an asset of value (collateral) as backing a loan. If you default on the loan, the lender can take the asset to recoup their money. The most common use cases for hypothecation include mortgages to buy residential and commercial real estate or loans to purchase vehicles.
An example of hypothecation would be an investor who takes out a mortgage loan to purchase an investment property. The property serves as collateral for the loan. Meanwhile, the investor collects the rental income derived from it.