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I assume this is in UK. A mortgage is created by deed. It can only be varied by deed. If it isn’t varied by deed then the agreement to vary it/extinguish it takes effect as an agreement not a deed.
The differences between an agreement and an agreement by deed are thata deed must be witnessed, it must be delivered, or intended to be delivered, it must be signed and it must be witnessed. In a deed there needs to be no consideration. Limitation to enforce in a deed is 12 years but an agreement is 6.
Does that answer the question? Can I help further?
it is not in UK but English law applicable. There is neither mortgage no any other security. It is unsecured loan.
Shall waiver of debt be only in the form of dead because it is made without consideration?
So, consideration is not required in order to avoid formal possibility to challenge waiver of debt? X owns 1 mln. to Y Y wave debt of X without getting anything in return by normal agreement Question: is it challengeable? Will it be still challengeable if Y wave debt of X without getting anything in return but sign it in the form of dead (with a witness)?
This is general question.
in simple words, what are negative consequences except shorter limitation period if waive of debt is signed without witness?
then theoretical question.... who, why and on what ground can challenge waive of debt?
there should be general ideas why? by whom? and on what ground? may waiver of debt in a form of agreement but not in form of deed may be questioned (declared void/unenforceable by the court)
Or simply “absence of witness” may never be a ground for declaring waiver of debt void or unenforceable?