Q: on redeeming mortgage, will possession go to the mortgagor or subsequent purchaser who has been sold property by owner
The mortgagor had leased its limited rights of lease to obtain loan. The possession later on passed to the mortgagee due to default of mortgagor. The owner had sold the property during the term of the mortgage. Now, on redeeming mortgage, will the possession go to the mortgagor (who has no subsisting right in property now) or the subsequent purchaser of the property.
A: It sounds like the mortgage has already been foreclosed upon which merges the title into the purchaser at the sale. Sorry but I do not know what "redeeming a mortgage" is. The mortgagor may have had some type of redemption right, but they are usually waived in the mortgage. Possession and Title are different. It sounds like the mortgagor is trying to pay off his note, which should only be the deficiency, and does not give him title nor possession.
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