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When a borrower defaults on a loan that has been secured by a mortgage the lender will typically foreclose on the mortgaged property and may also sue the borrower personally. This project examines the law and practice governing personal liability under mortgages and agreements for sale. The report highlights certain inconsistencies in this area and makes a number of recommendations to resolve these issues.

Keywords: personal; covenant; liability; mortgage; agreement; sale; land;
title; conveyance; default; foreclosure; remedy; covenant; property; real;
stay of execution; mortgagee; judgment; lender; indemnity; mortgagor;
guarantor; duration