Meaning of contrato de prorrogação (hipoteca)

contrato de prorrogação (hipoteca)

Language -

Tamil Word - நீட்டிப்பு ஒப்பந்தம் (அடமானம் தொடர்பான)

Extension agreement (mortgage-related) (e.g., The borrower and the lender signed a 'contrato de prorrogação' to extend the repayment period of the mortgage.) This Portuguese term refers to a legal agreement between a borrower and a lender to extend the term of a mortgage loan. In the context of Tamil Nadu, historical land documents might contain Portuguese terms due to the colonial presence in certain regions. Understanding such terms is important for interpreting old property records and understanding the historical context of land ownership and transactions.