Mortgage vs. Hypothecation
Mortgagenoun
(legal) A special form of secured loan where the purpose of the loan must be specified to the lender, to purchase assets that must be fixed (not movable) property, such as a house or piece of farm land. The assets are registered as the legal property of the borrower but the lender can seize them and dispose of them if they are not satisfied with the manner in which the repayment of the loan is conducted by the borrower. Once the loan is fully repaid, the lender loses this right of seizure and the assets are then deemed to be unencumbered.
Mortgagenoun
(obsolete) State of being pledged.
Mortgageverb
To borrow against a property, to obtain a loan for another purpose by giving away the right of seizure to the lender over a fixed property such as a house or piece of land; to pledge a property in order to get a loan.
Mortgageverb
To pledge and make liable; to make subject to obligation; to achieve an immediate result by paying for it in the long term.
Mortgagenoun
A conveyance of property, upon condition, as security for the payment of a debt or the preformance of a duty, and to become void upon payment or performance according to the stipulated terms; also, the written instrument by which the conveyance is made.
Mortgagenoun
State of being pledged; as, lands given in mortgage.
Mortgageverb
To grant or convey, as property, for the security of a debt, or other engagement, upon a condition that if the debt or engagement shall be discharged according to the contract, the conveyance shall be void, otherwise to become absolute, subject, however, to the right of redemption.
Mortgageverb
Hence: To pledge, either literally or figuratively; to make subject to a claim or obligation.
Mortgagenoun
a conditional conveyance of property as security for the repayment of a loan
Mortgageverb
put up as security or collateral
Mortgagenoun
a legal agreement by which a bank, building society, etc. lends money at interest in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt
Mortgagenoun
the amount of money borrowed in a mortgage
Mortgagenoun
a deed effecting a mortgage.
Mortgageverb
convey (a property) to a creditor as security on a loan
Mortgageverb
expose to future risk or constraint for the sake of immediate advantage
Hypothecationnoun
the use of property, or an existing mortgage, as security for a loan, etc.
Hypothecationnoun
(British) A tax levied for a specific expenditure
Hypothecationnoun
The act or contract by which property is hypothecated; a right which a creditor has in or to the property of his debtor, in virtue of which he may cause it to be sold and the price appropriated in payment of his debt. This is a right in the thing, or jus in re.
Hypothecationnoun
A contract whereby, in consideration of money advanced for the necessities of the ship, the vessel, freight, or cargo is made liable for its repayment, provided the ship arrives in safety. It is usually effected by a bottomry bond. See Bottomry.
Hypothecation
Hypothecation is the practice where a debtor pledges collateral to secure a debt or as a condition precedent to the debt, or a third party pledges collateral for the debtor. A letter of hypothecation is the usual instrument for carrying out the pledge.
