A mortgage is the ability of an individual, public institution, or private institution to borrow an amount of money, to buy a house, a plot of land, or any other real estate, and this property is a guarantee of the loan through its ownership, so the lender who is called a mortgagee can own the property if the borrower that is called is currently unable About paying the borrowed
The difference between mortgage and betting
The mortgage differs from betting, as betting in the language means an agreement in which the previous or the winner has money or something that the winner takes from the loser, either as a term that means determining the betting specific option or more, and each option has a certain percentage, where this ratio is multiplied by the bet amount Agreed, so that the outcome is the value of the amount that the bettor receives in the event that the option that the parties wagered on is correct, and the bet is made before the thing that was bet on occurs, and therefore the bets bear all cases of profit and loss.
One of the most important conditions is that the debtor pay this debt at the appointed time, and if he fulfills it, he will take his mortgage, and if he does not fulfill it, the mortgagee sells it to collect his debt. If the debtor does not fulfill his debt, the mortgagee has the right to forcibly remove and sell the mortgaged property, but he must notify the debtor before that. In the event that the value of the mortgaged property exceeds its original value, this increase will be the property of the owner only, but in the event of a decrease in the value, the debtor must compensate for this decrease. In the event that the debtor is unable to pay one installment, all the installments are settled in one payment, meaning that in the event the debtor provides the installment after the failure or after the delay, the bank has the right to demand the sale of the property and claim the rest of the installments. In the event of the death of one of the parties to the bet, this mortgage is not invalidated, but is transferred to the heirs or to the representative of the deceased