Reattachment – this legal term finds application in Property Law in some jurisdictions. In a situation where a primary mortgage has been placed, the property owner could establish another, a secondary mortgage on the real estate. The process is called “reattachment” because one more mortgage is to be attached to the same real estate. The role is to secure the same or another creditor against the money they are giving to the property owner. In practice, banks are releasing less money on secondary mortgages, than on primary ones. This is because their interests are less secured with secondary mortgage.

See also “Open mortgage”

Reattachment / Legal Glossary

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