Mortgage Definition–noun | 1. | a conveyance of an interest in property as security for the repayment of money borrowed. |
| 2. | the deed by which such a transaction is effected. |
| 3. | the rights conferred by it, or the state of the property conveyed. |
–verb (used with object) | 4. | Law. to convey or place (real property) under a mortgage. |
| 5. | to place under advance obligation; pledge: to mortgage one's life to the defense of democracy. |
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From Dictionary
Related topics from Britannicamortgage
in Anglo-American law, any of a number of related devices in which a debtor (mortgagor) conveys an interest in property to a creditor (mortgagee) as security for the payment of a money debt. The ...
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The Russian Federation's Civil Code permits mortgages and pledges to be used as devices for securing the performance of legal obligation, notably loan agreements. Although mortgages and pledges are ...
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foreclosure
legal proceeding by which a mortgagor's rights to a mortgaged property may be extinguished if the mortgagor (borrower) fails to live up to the obligations agreed to in the mortgage. The mortgagee ...
civil law
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fee
in modern common law, an estate of inheritance (land or other realty) over which a person has absolute ownership. The owner may put it virtually to any use-sell it, give it away, rent or lease it, ...
savings and loan association
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