Definition: " mortgagnotary " or "mortgagnotarial" in English. A mortgagnotary is a person who, upon the execution of a mortgage, acts as an attorney acting for the borrower, who in turn, as a party to the mortgage, acts on behalf of the lender. The word comes from the French term "morgan," which means "to be kept" or "guardian." The term is used to describe any person who has taken the responsibility for another's legal actions, such as a mortgage. In this case, the mortgagnotary performs the act of transferring ownership over the mortgage into the name of the borrower. The word "mortgage notary" can be applied in various contexts, depending on the specific details and circumstances of the situation. For example: 1. When you are involved in a loan transaction, your lender may choose to appoint a mortgagnotary to ensure that they take care of any legal responsibilities associated with the mortgage. 2. If you have a personal loan, your bank or credit union may appoint a mortgagnotary to act on your behalf as your agent and fiduciary for all aspects of the loan agreement. 3. In some jurisdictions, if you have a real estate transaction, such as buying or selling a property, there are also provisions in the mortgage document that require the mortgagnotary to execute certain documents on your behalf. It is important to note that the term "mortgage notary" has its roots in French, and it is possible for terminology to vary depending on the specific context.
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