Mortgage definition: Copy, customize, and use instantly
Introduction
The term "Mortgage" refers to a legal agreement in which a borrower pledges property to a lender as collateral for a loan. It is a common method of securing financing, particularly for the purchase of real estate.
Below are various examples of how "Mortgage" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Mortgage" as a loan secured by real property
This definition ties "Mortgage" to the idea of a loan secured by real estate.
"Mortgage" means a loan agreement in which the borrower pledges real property as collateral to secure the repayment of the loan.
Definition of "Mortgage" as a legal instrument
This definition connects "Mortgage" to its function as a legal instrument.
"Mortgage" refers to a legal document that creates a lien on the property as security for the payment of a debt, typically involving real estate.
Definition of "Mortgage" as a debt secured by real estate
This definition links "Mortgage" to the concept of securing a debt with property.
"Mortgage" means an agreement where a borrower secures a debt by pledging real estate as collateral, subject to the lender’s rights in case of default.
Definition of "Mortgage" as a pledge of property to secure a loan
This definition ties "Mortgage" to the pledge of property.
"Mortgage" refers to a contract where the borrower pledges property as security for a loan, granting the lender the right to foreclose on the property in the event of default.
Definition of "Mortgage" as a lien on real property
This definition links "Mortgage" to its status as a lien.
"Mortgage" means a legal claim or lien on real property granted to secure the repayment of a loan, which remains until the debt is paid in full.
Definition of "Mortgage" as a security interest in real property
This definition ties "Mortgage" to a security interest.
"Mortgage" refers to a security interest in real property, where the property is used as collateral for a loan, and the lender has the right to foreclose if the borrower defaults.
Definition of "Mortgage" as a financing tool for real estate
This definition connects "Mortgage" to real estate financing.
"Mortgage" means a financial instrument used by individuals or entities to purchase real estate, where the real estate itself serves as collateral for the loan.
Definition of "Mortgage" as a property loan agreement
This definition ties "Mortgage" to a property loan.
"Mortgage" refers to an agreement between a borrower and lender where real property is used as collateral for the repayment of a loan, with specified terms and conditions.
Definition of "Mortgage" as a contract with foreclosure rights
This definition links "Mortgage" to foreclosure rights.
"Mortgage" means a legal agreement where the borrower pledges real property as collateral for a loan, and the lender holds the right to foreclose on the property in case of default.
Definition of "Mortgage" as a lien securing real estate loans
This definition connects "Mortgage" to securing loans.
"Mortgage" refers to a lien placed on real estate property to secure a loan, giving the lender the right to take possession of the property in the event of borrower default.
Definition of "Mortgage" as a home loan
This definition ties "Mortgage" to home financing.
"Mortgage" means a loan specifically used for the purpose of purchasing or refinancing real estate, typically residential property, where the property itself serves as collateral.
Definition of "Mortgage" as a debt instrument with repayment terms
This definition links "Mortgage" to debt repayment.
"Mortgage" refers to a debt instrument in which the borrower agrees to repay the loan under specific terms, using real property as collateral, with the lender holding a legal claim until the debt is cleared.
Definition of "Mortgage" as a secured financing agreement
This definition ties "Mortgage" to secured financing.
"Mortgage" means an agreement in which the borrower secures financing by pledging real property, with the lender holding the right to initiate foreclosure proceedings in case of loan default.
Definition of "Mortgage" as a type of secured loan
This definition connects "Mortgage" to its classification as a secured loan.
"Mortgage" refers to a secured loan, typically used for purchasing property, in which the borrower’s property acts as collateral for the repayment of the loan.
Definition of "Mortgage" as a loan with interest and principal repayments
This definition links "Mortgage" to repayment terms.
"Mortgage" means a loan agreement where the borrower repays both principal and interest over a set period of time, with the property serving as collateral for the loan.
Definition of "Mortgage" as a real estate lien with default consequences
This definition ties "Mortgage" to default consequences.
"Mortgage" refers to a lien placed on real estate property, which gives the lender the right to take possession of the property through foreclosure if the borrower fails to repay the loan as agreed.
Definition of "Mortgage" as a security agreement in real property transactions
This definition links "Mortgage" to property transactions.
"Mortgage" means a security agreement where real property is pledged as collateral for a loan, which is commonly used in real estate transactions.
Definition of "Mortgage" as a financing agreement with collateral rights
This definition connects "Mortgage" to collateral rights.
"Mortgage" refers to a financing arrangement in which the borrower pledges real property as collateral for a loan, granting the lender certain rights, including foreclosure, in case of default.
Definition of "Mortgage" as a financial contract for property purchase
This definition ties "Mortgage" to property purchasing.
"Mortgage" means a financial contract between a borrower and lender used to fund the purchase of property, with the property itself serving as security for the loan.
Definition of "Mortgage" as a secured loan for real estate
This definition ties "Mortgage" to real estate financing.
"Mortgage" means a loan agreement secured by real estate, where the borrower pledges property to guarantee repayment of the loan.
Definition of "Mortgage" as a real estate loan agreement
This definition connects "Mortgage" to a loan agreement.
"Mortgage" refers to a legally binding agreement in which real property is used as collateral for a loan, with specific terms for repayment and interest.
Definition of "Mortgage" as a lien on property for securing debt
This definition links "Mortgage" to securing debt.
"Mortgage" means a lien on real property that secures repayment of a loan, where the lender may claim the property if the borrower defaults.
Definition of "Mortgage" as a financial instrument for property purchase
This definition ties "Mortgage" to property purchasing.
"Mortgage" refers to a financial instrument used to purchase real property, where the property itself serves as collateral for the loan.
Definition of "Mortgage" as a contractual security interest in property
This definition connects "Mortgage" to a contractual interest.
"Mortgage" means a contract in which a borrower grants a lender a security interest in real property to secure the repayment of a loan.
Definition of "Mortgage" as a form of loan with collateral rights
This definition links "Mortgage" to collateral rights.
"Mortgage" refers to a loan secured by real property, where the lender holds the right to foreclose on the property if the borrower defaults.
Definition of "Mortgage" as a pledge of property to secure debt
This definition connects "Mortgage" to the pledge of property.
"Mortgage" means an agreement in which the borrower pledges real estate as collateral for a debt, with the lender having rights to the property in case of non-payment.
Definition of "Mortgage" as a property loan with interest and principal
This definition ties "Mortgage" to repayment terms.
"Mortgage" refers to a loan for purchasing property, with payments made to cover both principal and interest over time, secured by the property.
Definition of "Mortgage" as a loan arrangement with foreclosure rights
This definition links "Mortgage" to foreclosure rights.
"Mortgage" means a loan agreement where the borrower pledges real estate as collateral, and the lender has the right to initiate foreclosure if the borrower defaults.
Definition of "Mortgage" as a security arrangement for property loans
This definition connects "Mortgage" to a security arrangement.
"Mortgage" refers to a security arrangement where real estate is used as collateral for a loan, providing the lender with a legal claim to the property if the borrower fails to repay.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.