A debtor offers his property for mortgage if he desires to secure any additional credit, but it must be done in good faith. He must be the absolute owner of the property he is mortgaging. If it is later found that a third party owned the property subject of the mortgage and the debtor-mortgagor knew that he was not the absolute owner, he may be charged with fraud in contracting his mortgage. His mortgage loan amortization will be nullified and declared void, and he may even be liable for damages due to his creditors and the third person with whose property he mortgaged in bad faith.

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