Sale vs. Mortgage

(obsolete) A hall.

An exchange of goods or services for currency or credit.

Example: ‘He celebrated after the sale of company.’;

The sale of goods at reduced prices.

Example: ‘They are having a clearance sale: 50% off.’;

The act of putting up for auction to the highest bidder.

See 1st Sallow.

The act of selling; the transfer of property, or a contract to transfer the ownership of property, from one person to another for a valuable consideration, or for a price in money.

Opportunity of selling; demand; market.

Example: ‘They shall have ready sale for them.’;

Public disposal to the highest bidder, or exposure of goods in market; auction.

the general activity of selling;

Example: ‘they tried to boost sales’; ‘laws limit the sale of handguns’;

a particular instance of selling;

Example: ‘he has just made his first sale’; ‘they had to complete the sale before the banks closed’;

the state of being purchasable; offered or exhibited for selling;

Example: ‘you'll find vitamin C for sale at most pharmacies’; ‘the new line of cars will soon be on sale’;

an occasion (usually brief) for buying at specially reduced prices;

Example: ‘they held a sale to reduce their inventory’; ‘I got some great bargains at their annual sale’;

an agreement (or contract) in which property is transferred from the seller (vendor) to the buyer (vendee) for a fixed price in money (paid or agreed to be paid by the buyer);

Example: ‘the salesman faxed the sales agreement to his home office’;

the exchange of a commodity for money; the action of selling something

Example: ‘the sale has fallen through’; ‘we withdrew it from sale’;

a quantity or amount sold

Example: ‘price cuts failed to boost sales’;

the activity or business of selling products

Example: ‘director of sales and marketing’;

a period during which a shop or dealer sells goods at reduced prices

Example: ‘the January sales got under way this week’;

a public or charitable event at which goods are sold or auctioned

Example: ‘a bric-a-brac sale will be held at St Cuthbert's Church Centre’;

(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.

Example: ‘We're renting a property in the city centre because we can't afford to get a mortgage yet.’;

(obsolete) State of being pledged.

Example: ‘lands given in mortgage’;

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.

Example: ‘to mortgage a property, an estate, a shop’; ‘We mortgaged our house in order to start a company.’;

To pledge and make liable; to make subject to obligation; to achieve an immediate result by paying for it in the long term.

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.

State of being pledged; as, lands given in mortgage.

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.

Hence: To pledge, either literally or figuratively; to make subject to a claim or obligation.

Example: ‘Mortgaging their lives to covetise.’; ‘I myself an mortgaged to thy will.’;

a conditional conveyance of property as security for the repayment of a loan

put up as security or collateral

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

Example: ‘I put down a hundred thousand in cash and took out a mortgage for the rest’;

the amount of money borrowed in a mortgage

Example: ‘a £60,000 mortgage’;

a deed effecting a mortgage.

convey (a property) to a creditor as security on a loan

Example: ‘the estate was mortgaged up to the hilt’; ‘a heavily mortgaged farm’;

expose to future risk or constraint for the sake of immediate advantage

Example: ‘some people worry that selling off state assets mortgages the country's future’;