Document background
The Mortgage and Security Agreement is a fundamental document in Irish property financing, used when a lender provides funding secured against real estate. This agreement is essential for both residential and commercial property transactions in Ireland, establishing the legal framework for the security interest and defining the rights and obligations of all parties involved. It must comply with various Irish regulations, including the Land and Conveyancing Law Reform Act 2009 and Consumer Credit Act 1995, among others. The document typically includes detailed provisions about the property, loan terms, security creation, borrower covenants, lender's rights, and enforcement mechanisms. It's particularly important that the agreement adheres to Irish consumer protection requirements and includes mandatory warnings and notices. The agreement serves as the primary security document that can be registered with the Irish Land Registry, creating a legally enforceable charge over the property.
