CHARGE is a common form of security registered in favour of the financial institution in exchange for the granting of a loan facility to the purchaser in financing the purchase of property. The financial provider is the chargee and the borrower is the chargor. In return for the financial assistance to the chargor, the registered charge on the property gives the chargee certain rights to protect this interest in the event of chargor default on the repayment of the loan instalment.