| slovo | definícia |
mortgage
(mass) | mortgage
- hypotéka, zaťažiť hypotékou |
mortgage
(encz) | mortgage,hypotéka Pavel Machek; Giza |
mortgage
(encz) | mortgage,zástava n: Zdeněk Brož |
mortgage
(encz) | mortgage,zastavit nemovitost n: Zdeněk Brož |
mortgage
(encz) | mortgage,zatížit hypotékou Zdeněk Brož |
mortgage
(gcide) | Record \Re*cord"\ (r?*k?rd"), v. t. [imp. & p. p. Recorded; p.
pr. & vb. n. Recording.] [OE. recorden to repeat, remind,
F. recorder, fr. L. recordari to remember; pref. re- re- +
cor, cordis, the heart or mind. See Cordial, Heart.]
1. To recall to mind; to recollect; to remember; to meditate.
[Obs.] "I it you record." --Chaucer.
[1913 Webster]
2. To repeat; to recite; to sing or play. [Obs.]
[1913 Webster]
They longed to see the day, to hear the lark
Record her hymns, and chant her carols blest.
--Fairfax.
[1913 Webster]
3. To preserve the memory of, by committing to writing, to
printing, to inscription, or the like; to make note of; to
write or enter in a book or on parchment, for the purpose
of preserving authentic evidence of; to register; to
enroll; as, to record the proceedings of a court; to
record historical events.
[1913 Webster]
Those things that are recorded of him . . . are
written in the chronicles of the kings. --1 Esd. i.
42.
[1913 Webster]
To record a deed, mortgage, lease, etc., to have a copy
of the same entered in the records of the office
designated by law, for the information of the public.
[1913 Webster] |
Mortgage
(gcide) | Mortgage \Mort"gage\, v. t. [imp. & p. p. Mortgaged; p. pr. &
vb. n. Mortgaging.]
1. (Law) 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.
[1913 Webster]
2. Hence: To pledge, either literally or figuratively; to
make subject to a claim or obligation.
[1913 Webster]
Mortgaging their lives to covetise. --Spenser.
[1913 Webster]
I myself an mortgaged to thy will. --Shak.
[1913 Webster] |
Mortgage
(gcide) | Mortgage \Mort"gage\ (m[^o]r"g[asl]j; 48), n. [F. mort-gage;
mort dead (L. mortuus) + gage pledge. See Mortal, and
Gage.]
1. (Law) 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.
[1913 Webster]
Note: It was called a mortgage (or dead pledge) because,
whatever profit it might yield, it did not thereby
redeem itself, but became lost or dead to the mortgager
upon breach of the condition. But in equity a right of
redemption is an inseparable incident of a mortgage
until the mortgager is debarred by his own laches, or
by judicial decree. --Cowell. --Kent.
[1913 Webster]
2. State of being pledged; as, lands given in mortgage.
[1913 Webster]
Chattel mortgage. See under Chattel.
To foreclose a mortgage. See under Foreclose.
Mortgage deed (Law), a deed given by way of mortgage.
[1913 Webster] |
mortgage
(wn) | mortgage
n 1: a conditional conveyance of property as security for the
repayment of a loan
v 1: put up as security or collateral |
MORTGAGE
(bouvier) | MORTGAGE, contracts, conveyancing. Mortgages are of several kinds: as the
concern the kind of property, mortgaged, they are mortgages of lands,
tenements, and, hereditaments, or of goods and chattels; as they affect the
title of the thing mortgaged, they are legal and equitable.
2. In equity all kinds of property; real or personal, which are capable
of an absolute sale, may be the subject of a mortgage; rights in remainder
and reversion, franchises, and choses in action, may, therefore, be
mortgaged; But a mere possibility or expectancy, as that of an heir, cannot.
2 Story, Eq. Jur. Sec. 1021; 4 Kent, Com. 144; 1 Powell, Mortg. 17, 23; 3
Meri. 667.
3. A legal mortgage of lands may be described to be a conveyance of
lands, by a debtor to his creditor, as a pledge and security for the
repayment of a sum of money borrowed, or performance of a covenant; 1 Watts,
R. 140; with a proviso, that such conveyance shall be void on payment of the
money and interest on a certain day, or the performance of such covenant by
the time appointed, by which the conveyance of the land becomes absolute at
law, yet the, mortgagor has an equity of redemption, that is, a right in
equity on the performance of the agreement within a reasonable time, to call
for a re-conveyance of the land. Cruise, Dig. t. 15, c. 1, s. 11; 1 Pow. on
Mortg. 4 a, n.; 2 Chip. 100; 1 Pet. R. 386; 2 Mason, 531; 13 Wend. 485; 5
Verm. 532; 1 Yeates, 579; 2 Pick. 211.
4. It is an universal rule in equity that once a mortgage, always a
mortgage; 2 Cowen, R. 324; 1 Yeates, R. 584; every attempt, therefore, to
defeat the equity of redemption, must fail. See Equity of Redemption.
5. As to the form, such a mortgage must be in writing, when it is
intended to convey the legal title. 1 Penna. R. 240. It is either in one
single deed which contains the whole contract -- and which is the usual form
-- or, it is two separate instruments, the one containing an absolute
conveyance, and the other a defeasance. 2 Johns. Ch. Rep. 189; 15 Johns. R.
555; 2 Greenl. R. 152; 12 Mass. 456; 7 Pick. 157; 3 Wend, 208; Addis. 357; 6
Watts, 405; 3 Watts, 188; 3 Fairf. 346; 7 Wend. 248. But it may be observed
in general, that whatever clauses or covenants there are in a conveyance,
though they seem to import an absolute disposition or conditional purchase,
yet if, upon the whole, it appears to have been the intention of the parties
that such conveyance should be a mortgage only, or pass an estate
redeemable, a court of equity will always so construe it. Vern. 183, 268,
394; Prec Ch. 95; 1 Wash. R 126; 2 Mass. R. 493; 4 John. R. 186; 2 Cain. Er.
124.
6. As the money borrowed on mortgage is seldom paid on the day
appointed, mortgages have now become entirely subject to the court of
chancery, where it is an established rule that the mortgagee holds the
estate merely as a pledge or security for the repayment of his money;
therefore a mortgage is considered in equity as personal estate.
7. The mortgagor is held to be the real owner of the land, the debt
being considered the principal, and the land the accessory; whenever the
debt is discharged, the interest of the mortgagee in the lands determines of
course, and he is looked on in equity as a trustee for the mortgagor.
8. An equitable mortgage of lands is one where the mortgagor does not
convey regularly the land, but does some act by which he manifests his
determination to bind the same for the security of a debt he owes. An
agreement in writing to transfer an estate as a security for the repayment
of a sum of money borrowed, or even a deposit of title deeds, and a verbal
agreement, will have the same effect of creating an equitable mortgage. 1
Rawle, Rep. 328; 5 Wheat. R. 284; 1 Cox's Rep. 211. But in Pennsylvania
there is no such a thing as an equitable mortgage. 3 P. S. R. 233. Such an
agreement will be carried into execution in equity against the mortgagor, or
any one claiming under him with notice, either actual or constructive, of
such deposit having been made. 1 Bro. C. C. 269; 2 Dick. 759; 2 Anstr. 427;
2 East, R. 486; 9 Ves. jr. 115; 11 Ves. jr. 398, 403; 12 Ves. jr. 6, 192; 1
John. Cas. 116; 2 John. Ch. R. 608; 2 Story, Eq. Jur. Sec. 1020. Miller, Eq.
Mortg. passim.
9. A mortgage of goods is distinguishable from a mere pawn. 5 Verm.
532; 9 Wend. 80; 8 John. 96. By a grant or conveyance of goods in gage or
mortgage, the whole legal title passes conditionally to the mortgagee, and
if not redeemed at the time stipulated, the title becomes absolute at law,
though equity will interfere to compel a redemption. But, in a pledge, a
special property only passes to the pledgee, the general property remaining
in the pledger. There have been some cases of mortgages of chattels, which
have been held valid without any actual possession in the mortgagee; but
they stand upon very peculiar grounds and may be deemed exceptions to the
general rule. 2 Pick. R. 607; 5 Pick. R. 59; 5 Johns. R. 261; Sed vide 12
Mass. R. 300; 4 Mass. R. 352; 6 Mass. R. 422; 15 Mass. R. 477; 5 S. & R.
275; 12 Wend. 277: 15 Wend. 212, 244; 1 Penn. 57. Vide, generally,, Powell
on Mortgages; Cruise, Dig. tit. 15; Viner, Ab. h.t.; Bac. Ab. h.t., Com.
Dig. h.t.; American Digests, generally, h.t.; New, York Rev. Stat. p. 2,
c. 3; 9 Wend. 80; 9 Greenl. 79; 12 Wend. 61; 2 Wend. 296; 3 Cowen, 166; 9
Wend. 345; 12 Wend. 297; 5 Greenl. 96; 14 Pick. 497; 3 Wend. 348; 2 Hall,
63; 2 Leigh, 401; 15 Wend. 244; Bouv. Inst. Index, h.t.
10. It is proper to, observe that a conditional sale with the right to
repurchase very nearly resembles a mortgage; but they are distinguishable.
It is said that if the debt remains, the transaction is a mortgage, but if
the debt is extinguished by mutual agreement, or the money advanced is not
loaned, but the grantor has a right to refund it in a given time, and have a
reconveyance, this is a conditional sale. 2 Edw. R. 138; 2 Call, R. 354; 5
Gill & John. 82; 2 Yerg. R. 6; 6 Yerg. R. 96; 2 Sumner, R. 487; 1 Paige, R.
56; 2 Ball & Beat. 274. In cases of doubt, however, courts of equity will
always lean in favor of a mortgage. 7 Cranch, R. 237; 2 Desaus. 564.
11. According to the laws of Louisiana a mortgage is a right granted to
the creditor over the property of his debtor, for the security of his debt,
and gives him the power of having the property seized and sold in default of
payment. Civ. Code of Lo. art. 3245.
12. Mortgage is conventional, legal or judicial. 1st. The conventional
mortgage is a contract by which a person binds the whole of his property, or
a portion of it only, in favor of another, to secure the execution of some
engagement, but without divesting himself of the possession. Civ. Code, art.
3257.
13.-2d. Legal mortgage is that which is created by operation of law:
this is also called tacit mortgage, because it is established by the law,
without the aid of any agreement. Art. 3279. A few examples will show the
nature of this mortgage. Minors, persons interdicted, and absentees, "have a
legal mortgage on the property of their tutors and curators, as a security
for their administration; and the latter have a mortgage on the property of
the former for advances which they have made. The property of persons who,
without being lawfully appointed curators or tutors of minors, &c.,
interfere with their property, is bound by a legal mortgage from the day on
which the first act of interference was done.
14.-3d. The judicial mortgage is that resulting from judgments,
whether these be rendered on contested cases or by default, whether they be
final or provisional, in favor of the person obtaining them. Art. 3289.
15. Mortgage, with respect to the manner in which it binds the property,
is divided into general mortgage, or special mortgage. General mortgage is
that which binds all the property, present or future, of the debtor. Special
mortgage is that which binds only certain specified property. Art. 3255.
16. The following objects are alone susceptible of mortgage: 1.
Immovables, subject to alienation, and their accessories considered likewise
as immovable. 2. The usufruct of the same description of property with its
accessories during the time of its duration. 3. Slave's. 4. Ships and other
vessels. Art. 3256.
|
| | podobné slovo | definícia |
mortgage
(mass) | mortgage
- hypotéka, zaťažiť hypotékou |
chattel mortgage
(encz) | Chattel mortgage,zástavní právo mortgage where a loan is granted
against the value of movable personal property, as opposed to real
estate kulayta |
collateralized mortgage obligation
(encz) | collateralized mortgage obligation, |
first mortgage
(encz) | first mortgage, n: |
mortgage
(encz) | mortgage,hypotéka Pavel Machek; Gizamortgage,zástava n: Zdeněk Brožmortgage,zastavit nemovitost n: Zdeněk Brožmortgage,zatížit hypotékou Zdeněk Brož |
mortgage application
(encz) | mortgage application, n: |
mortgage bank
(encz) | mortgage bank,hypotéční banka Zdeněk Brož |
mortgage credit institution
(encz) | mortgage credit institution, |
mortgage deed
(encz) | mortgage deed, n: |
mortgage holder
(encz) | mortgage holder, n: |
mortgage loan
(encz) | mortgage loan,hypotéční úvěr n: [práv.] Ivan Masár |
mortgage-backed security
(encz) | mortgage-backed security, n: |
mortgageable
(encz) | mortgageable, |
mortgaged
(encz) | mortgaged, |
mortgagee
(encz) | mortgagee,hypotéční věřitel Zdeněk Brož |
mortgager
(encz) | mortgager,hypoteční dlužník Zdeněk Brožmortgager,zástavce n: Zdeněk Brož |
mortgages
(encz) | mortgages,hypotéky n: pl. Zdeněk Brož |
reverse annuity mortgage
(encz) | reverse annuity mortgage, |
reverse mortgage
(encz) | reverse mortgage, |
second mortgage
(encz) | second mortgage, n: |
subprime mortgage
(encz) | subprime mortgage,riziková hypotéka asi nebude splacena Rostislav
Svoboda |
unmortgaged
(encz) | unmortgaged, adj: |
= subprime mortgage
(czen) | = subprime mortgage,subprimen: [amer.] riziková hypotéka Rostislav
Svoboda |
Blanket mortgage
(gcide) | Blanket mortgage \Blanket mortgage\ or Blanket policy \Blanket
policy\ .
One that covers a group or class of things or properties
instead of one or more things mentioned individually, as
where a mortgage secures various debts as a group, or
subjects a group or class of different pieces of property to
one general lien.
[Webster 1913 Suppl.] |
Chattel mortgage
(gcide) | Mortgage \Mort"gage\ (m[^o]r"g[asl]j; 48), n. [F. mort-gage;
mort dead (L. mortuus) + gage pledge. See Mortal, and
Gage.]
1. (Law) 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.
[1913 Webster]
Note: It was called a mortgage (or dead pledge) because,
whatever profit it might yield, it did not thereby
redeem itself, but became lost or dead to the mortgager
upon breach of the condition. But in equity a right of
redemption is an inseparable incident of a mortgage
until the mortgager is debarred by his own laches, or
by judicial decree. --Cowell. --Kent.
[1913 Webster]
2. State of being pledged; as, lands given in mortgage.
[1913 Webster]
Chattel mortgage. See under Chattel.
To foreclose a mortgage. See under Foreclose.
Mortgage deed (Law), a deed given by way of mortgage.
[1913 Webster]Chattel \Chat"tel\, n. [OF. chatel; another form of catel. See
Cattle.] (Law)
Any item of movable or immovable property except the
freehold, or the things which are parcel of it. It is a more
extensive term than goods or effects.
[1913 Webster]
Note: Chattels are personal or real: personal are such as are
movable, as goods, plate, money; real are such rights
in land as are less than a freehold, as leases,
mortgages, growing corn, etc.
[1913 Webster]
Chattel mortgage (Law), a mortgage on personal property, as
distinguished from one on real property.
[1913 Webster] |
Dismortgage
(gcide) | Dismortgage \Dis*mort"gage\ (?; 48), v. t. [imp. & p. p.
Dismortaged; p. pr. & vb. n. Dismortgaging.]
To redeem from mortgage. [Obs.] --Howell.
[1913 Webster] |
Federal National Mortgage Association
(gcide) | Federal National Mortgage Association \Federal National Mortgage
Association\ prop. n.
A federally chartered corporation that purchases and resells
mortgages. [acron.]
Syn: FNMA, Fannie Mae.
[WordNet 1.5] |
mortgage
(gcide) | Record \Re*cord"\ (r?*k?rd"), v. t. [imp. & p. p. Recorded; p.
pr. & vb. n. Recording.] [OE. recorden to repeat, remind,
F. recorder, fr. L. recordari to remember; pref. re- re- +
cor, cordis, the heart or mind. See Cordial, Heart.]
1. To recall to mind; to recollect; to remember; to meditate.
[Obs.] "I it you record." --Chaucer.
[1913 Webster]
2. To repeat; to recite; to sing or play. [Obs.]
[1913 Webster]
They longed to see the day, to hear the lark
Record her hymns, and chant her carols blest.
--Fairfax.
[1913 Webster]
3. To preserve the memory of, by committing to writing, to
printing, to inscription, or the like; to make note of; to
write or enter in a book or on parchment, for the purpose
of preserving authentic evidence of; to register; to
enroll; as, to record the proceedings of a court; to
record historical events.
[1913 Webster]
Those things that are recorded of him . . . are
written in the chronicles of the kings. --1 Esd. i.
42.
[1913 Webster]
To record a deed, mortgage, lease, etc., to have a copy
of the same entered in the records of the office
designated by law, for the information of the public.
[1913 Webster]Mortgage \Mort"gage\, v. t. [imp. & p. p. Mortgaged; p. pr. &
vb. n. Mortgaging.]
1. (Law) 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.
[1913 Webster]
2. Hence: To pledge, either literally or figuratively; to
make subject to a claim or obligation.
[1913 Webster]
Mortgaging their lives to covetise. --Spenser.
[1913 Webster]
I myself an mortgaged to thy will. --Shak.
[1913 Webster]Mortgage \Mort"gage\ (m[^o]r"g[asl]j; 48), n. [F. mort-gage;
mort dead (L. mortuus) + gage pledge. See Mortal, and
Gage.]
1. (Law) 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.
[1913 Webster]
Note: It was called a mortgage (or dead pledge) because,
whatever profit it might yield, it did not thereby
redeem itself, but became lost or dead to the mortgager
upon breach of the condition. But in equity a right of
redemption is an inseparable incident of a mortgage
until the mortgager is debarred by his own laches, or
by judicial decree. --Cowell. --Kent.
[1913 Webster]
2. State of being pledged; as, lands given in mortgage.
[1913 Webster]
Chattel mortgage. See under Chattel.
To foreclose a mortgage. See under Foreclose.
Mortgage deed (Law), a deed given by way of mortgage.
[1913 Webster] |
mortgage debenture
(gcide) | Debenture \De*ben"ture\ (?; 135), n. [L. debentur they are due,
fr. debere to owe; cf. F. debentur. So called because these
receipts began with the words Debentur mihi.]
1. A writing acknowledging a debt; a writing or certificate
signed by a public officer, as evidence of a debt due to
some person; the sum thus due.
[1913 Webster]
2. A customhouse certificate entitling an exporter of
imported goods to a drawback of duties paid on their
importation. --Burrill.
[1913 Webster]
Note: It is applied in England to deeds of mortgage given by
railway companies for borrowed money; also to municipal
and other bonds and securities for money loaned.
[1913 Webster]
3. Any of various instruments issued, esp. by corporations,
as evidences of debt. Such instruments (often called
debenture bonds) are generally, through not necessarily,
under seal, and are usually secured by a mortgage or other
charge upon property; they may be registered or
unregistered. A debenture secured by a mortgage on
specific property is called a
mortgage debenture; one secured by a floating charge (which
see), a
floating debenture; one not secured by any charge
a naked debenture. In general the term debenture in British
usage designates any security issued by companies other
than their shares, including, therefore, what are in the
United States commonly called bonds. When used in the
United States debenture generally designates an instrument
secured by a floating charge junior to other charges
secured by fixed mortgages, or, specif., one of a series
of securities secured by a group of securities held in
trust for the benefit of the debenture holders.
[Webster 1913 Suppl.] |
Mortgage deed
(gcide) | Mortgage \Mort"gage\ (m[^o]r"g[asl]j; 48), n. [F. mort-gage;
mort dead (L. mortuus) + gage pledge. See Mortal, and
Gage.]
1. (Law) 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.
[1913 Webster]
Note: It was called a mortgage (or dead pledge) because,
whatever profit it might yield, it did not thereby
redeem itself, but became lost or dead to the mortgager
upon breach of the condition. But in equity a right of
redemption is an inseparable incident of a mortgage
until the mortgager is debarred by his own laches, or
by judicial decree. --Cowell. --Kent.
[1913 Webster]
2. State of being pledged; as, lands given in mortgage.
[1913 Webster]
Chattel mortgage. See under Chattel.
To foreclose a mortgage. See under Foreclose.
Mortgage deed (Law), a deed given by way of mortgage.
[1913 Webster] |
Mortgaged
(gcide) | Mortgage \Mort"gage\, v. t. [imp. & p. p. Mortgaged; p. pr. &
vb. n. Mortgaging.]
1. (Law) 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.
[1913 Webster]
2. Hence: To pledge, either literally or figuratively; to
make subject to a claim or obligation.
[1913 Webster]
Mortgaging their lives to covetise. --Spenser.
[1913 Webster]
I myself an mortgaged to thy will. --Shak.
[1913 Webster]mortgaged \mortgaged\ adj.
burdened with legal or financial obligations; as, His house
was mortgaged to the hilt.
[WordNet 1.5] |
mortgaged
(gcide) | Mortgage \Mort"gage\, v. t. [imp. & p. p. Mortgaged; p. pr. &
vb. n. Mortgaging.]
1. (Law) 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.
[1913 Webster]
2. Hence: To pledge, either literally or figuratively; to
make subject to a claim or obligation.
[1913 Webster]
Mortgaging their lives to covetise. --Spenser.
[1913 Webster]
I myself an mortgaged to thy will. --Shak.
[1913 Webster]mortgaged \mortgaged\ adj.
burdened with legal or financial obligations; as, His house
was mortgaged to the hilt.
[WordNet 1.5] |
Mortgagee
(gcide) | Mortgagee \Mort`ga*gee"\, n. (Law)
The person to whom property is mortgaged, or to whom a
mortgage is made or given.
[1913 Webster] Mortgageor |
Mortgageor
(gcide) | Mortgageor \Mort"gage*or\, Mortgagor \Mort"ga*gor\, n. (Law)
One who gives a mortgage.
[1913 Webster]
Note: The letter e is required analogically after the second
g in order to soften it; but the spelling mortgagor is
in fact the prevailing form. When the word is
contradistinguished from mortgagee it is accented on
the last syllable (-j[^o]r").
[1913 Webster] |
Mortgager
(gcide) | Mortgager \Mort"ga*ger\, n. (Law)
One who gives a mortgage.
[1913 Webster] |
To foreclose a mortgage
(gcide) | Foreclose \Fore*close"\, v. t. [imp. & p. p. Foreclosed; p.
pr. & vb. n. Foreclosing.] [F. forclos, p. p. of forclore
to exclude; OF. fors, F. hors, except, outside (fr. L. foris
outside) + F. clore to close. See Foreign, and Close, v.
t.]
To shut up or out; to preclude; to stop; to prevent; to bar;
to exclude.
[1913 Webster]
The embargo with Spain foreclosed this trade. --Carew.
[1913 Webster]
To foreclose a mortgager (Law), to cut him off by a
judgment of court from the power of redeeming the
mortgaged premises, termed his equity of redemption.
To foreclose a mortgage, (not technically correct, but
often used to signify) the obtaining a judgment for the
payment of an overdue mortgage, and the exposure of the
mortgaged property to sale to meet the mortgage debt.
--Wharton.
[1913 Webster]Mortgage \Mort"gage\ (m[^o]r"g[asl]j; 48), n. [F. mort-gage;
mort dead (L. mortuus) + gage pledge. See Mortal, and
Gage.]
1. (Law) 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.
[1913 Webster]
Note: It was called a mortgage (or dead pledge) because,
whatever profit it might yield, it did not thereby
redeem itself, but became lost or dead to the mortgager
upon breach of the condition. But in equity a right of
redemption is an inseparable incident of a mortgage
until the mortgager is debarred by his own laches, or
by judicial decree. --Cowell. --Kent.
[1913 Webster]
2. State of being pledged; as, lands given in mortgage.
[1913 Webster]
Chattel mortgage. See under Chattel.
To foreclose a mortgage. See under Foreclose.
Mortgage deed (Law), a deed given by way of mortgage.
[1913 Webster] |
To foreclose a mortgager
(gcide) | Foreclose \Fore*close"\, v. t. [imp. & p. p. Foreclosed; p.
pr. & vb. n. Foreclosing.] [F. forclos, p. p. of forclore
to exclude; OF. fors, F. hors, except, outside (fr. L. foris
outside) + F. clore to close. See Foreign, and Close, v.
t.]
To shut up or out; to preclude; to stop; to prevent; to bar;
to exclude.
[1913 Webster]
The embargo with Spain foreclosed this trade. --Carew.
[1913 Webster]
To foreclose a mortgager (Law), to cut him off by a
judgment of court from the power of redeeming the
mortgaged premises, termed his equity of redemption.
To foreclose a mortgage, (not technically correct, but
often used to signify) the obtaining a judgment for the
payment of an overdue mortgage, and the exposure of the
mortgaged property to sale to meet the mortgage debt.
--Wharton.
[1913 Webster] |
Unmortgaged
(gcide) | Unmortgaged \Unmortgaged\
See mortgaged. |
Variable-rate mortgage
(gcide) | Variable \Va"ri*a*ble\, a. [L. variabilis: cf. F. variable.]
1. Having the capacity of varying or changing; capable of
alternation in any manner; changeable; as, variable winds
or seasons; a variable quantity.
[1913 Webster]
2. Liable to vary; too susceptible of change; mutable;
fickle; unsteady; inconstant; as, the affections of men
are variable; passions are variable.
[1913 Webster]
Lest that thy love prove likewise variable. --Shak.
[1913 Webster]
His heart, I know, how variable and vain! --Milton.
[1913 Webster]
Variable exhaust (Steam Eng.), a blast pipe with an
adjustable opening.
Variable quantity (Math.), a variable.
Variable-rate mortgage (Finance), a mortgage whose
percentage interest rate varies depending on some agreed
standard, such as the prime rate; -- used often in
financing the purchase of a home. Such a mortgage usually
has a lower initial interest rate than a {fixed-rate
mortgage}, and this permits buyers of a home to finance
the purchase a house of higher price than would be
possible with a fixed-rate loan.
Variable stars (Astron.), fixed stars which vary in their
brightness, usually in more or less uniform periods.
[1913 Webster]
Syn: Changeable; mutable; fickle; wavering; unsteady;
versatile; inconstant.
[1913 Webster] |
Welsh mortgage
(gcide) | Welsh \Welsh\, a. [AS. w[ae]lisc, welisc, from wealh a stranger,
foreigner, not of Saxon origin, a Welshman, a Celt, Gael;
akin to OHG. walh, whence G. w[aum]lsch or welsch, Celtic,
Welsh, Italian, French, Foreign, strange, OHG. walhisc; from
the name of a Celtic tribe. See Walnut.]
Of or pertaining to Wales, or its inhabitants. [Sometimes
written also Welch.]
[1913 Webster]
Welsh flannel, a fine kind of flannel made from the fleece
of the flocks of the Welsh mountains, and largely
manufactured by hand.
Welsh glaive, or Welsh hook, a weapon of war used in
former times by the Welsh, commonly regarded as a kind of
poleax. --Fairholt. --Craig.
Welsh mortgage (O. Eng. Law), a species of mortgage, being
a conveyance of an estate, redeemable at any time on
payment of the principal, with an understanding that the
profits in the mean time shall be received by the
mortgagee without account, in satisfaction of interest.
--Burrill.
Welsh mutton, a choice and delicate kind of mutton obtained
from a breed of small sheep in Wales.
Welsh onion (Bot.), a kind of onion (Allium fistulosum)
having hollow inflated stalks and leaves, but scarcely any
bulb, a native of Siberia. It is said to have been
introduced from Germany, and is supposed to have derived
its name from the German term w[aum]lsch foreign.
Welsh parsley, hemp, or halters made from hemp. [Obs. &
Jocular] --J. Fletcher.
Welsh rabbit. See under Rabbit.
[1913 Webster] |
chattel mortgage
(wn) | chattel mortgage
n 1: a loan to buy some personal item; the item (or chattel) is
security for the loan |
federal home loan mortgage corporation
(wn) | Federal Home Loan Mortgage Corporation
n 1: a corporation authorized by Congress to provide a secondary
market for residential mortgages [syn: {Federal Home Loan
Mortgage Corporation}, Freddie Mac, FHLMC] |
federal national mortgage association
(wn) | Federal National Mortgage Association
n 1: a federally chartered corporation that purchases mortgages
[syn: Federal National Mortgage Association, {Fannie
Mae}, FNMA] |
first mortgage
(wn) | first mortgage
n 1: a mortgage that has priority over all mortgages and liens
except those imposed by law |
mortgage
(wn) | mortgage
n 1: a conditional conveyance of property as security for the
repayment of a loan
v 1: put up as security or collateral |
mortgage application
(wn) | mortgage application
n 1: an application for a mortgage loan |
mortgage deed
(wn) | mortgage deed
n 1: deed embodying a mortgage |
mortgage holder
(wn) | mortgage holder
n 1: the person who accepts a mortgage; "the bank became our
mortgagee when it accepted our mortgage on our new home"
[syn: mortgagee, mortgage holder] |
mortgage loan
(wn) | mortgage loan
n 1: a loan on real estate that is usually secured by a mortgage
[syn: real estate loan, mortgage loan] |
mortgage-backed security
(wn) | mortgage-backed security
n 1: a security created when a group of mortgages are gathered
together and bonds are sold to other institutions or the
public; investors receive a portion of the interest
payments on the mortgages as well as the principal
payments; usually guaranteed by the government |
mortgaged
(wn) | mortgaged
adj 1: burdened with legal or financial obligations; "his house,
his business, indeed, his whole life was heavily
mortgaged" |
mortgagee
(wn) | mortgagee
n 1: the person who accepts a mortgage; "the bank became our
mortgagee when it accepted our mortgage on our new home"
[syn: mortgagee, mortgage holder] |
mortgager
(wn) | mortgager
n 1: the person who gives a mortgage in return for money to be
repaid; "we became mortgagors when the bank accepted our
mortgage and loaned us the money to buy our new home" [syn:
mortgagor, mortgager] |
second mortgage
(wn) | second mortgage
n 1: a mortgage that is subordinate to a first mortgage |
unmortgaged
(wn) | unmortgaged
adj 1: (especially of a title) free from any encumbrance or
limitation that presents a question of fact or law; "I
have clear title to this property" [syn: clear,
unmortgaged] |
EQUITABLE MORTGAGE
(bouvier) | EQUITABLE MORTGAGE, Eng. law. The deposit of title-deeds, by the owner of an
estate, with a person from whom he has borrowed money, with an accompanying
agreement to execute a regular mortgage, or by the mere deposit, without
even any verbal agreement respecting a regular security. 2 Pow. on Mort. 49
to 61; 1 Mad. Ch. Pr. 537; 4 Madd. R. 249; 1 Bro. C. C. 269; 12 Ves. 197; 3
Younge & J. 150; 1 Rus. R. 141.
2. In Pennsylvania, there is no such thing as an equitable mortgage. 3
P. S. R; 233; 3 Penna. R. 239; 17 S. & R. 70; 1 Penna. R. 447.
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JUDICIAL MORTGAGE
(bouvier) | JUDICIAL MORTGAGE. In Louisiana, it is the lien resulting from judgments,
whether these be rendered on contested cases, or by default, whether they be
final or provisional, in favor of the person obtaining them. Civ. Code of
Lo. art. 3289.
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MORTGAGE
(bouvier) | MORTGAGE, contracts, conveyancing. Mortgages are of several kinds: as the
concern the kind of property, mortgaged, they are mortgages of lands,
tenements, and, hereditaments, or of goods and chattels; as they affect the
title of the thing mortgaged, they are legal and equitable.
2. In equity all kinds of property; real or personal, which are capable
of an absolute sale, may be the subject of a mortgage; rights in remainder
and reversion, franchises, and choses in action, may, therefore, be
mortgaged; But a mere possibility or expectancy, as that of an heir, cannot.
2 Story, Eq. Jur. Sec. 1021; 4 Kent, Com. 144; 1 Powell, Mortg. 17, 23; 3
Meri. 667.
3. A legal mortgage of lands may be described to be a conveyance of
lands, by a debtor to his creditor, as a pledge and security for the
repayment of a sum of money borrowed, or performance of a covenant; 1 Watts,
R. 140; with a proviso, that such conveyance shall be void on payment of the
money and interest on a certain day, or the performance of such covenant by
the time appointed, by which the conveyance of the land becomes absolute at
law, yet the, mortgagor has an equity of redemption, that is, a right in
equity on the performance of the agreement within a reasonable time, to call
for a re-conveyance of the land. Cruise, Dig. t. 15, c. 1, s. 11; 1 Pow. on
Mortg. 4 a, n.; 2 Chip. 100; 1 Pet. R. 386; 2 Mason, 531; 13 Wend. 485; 5
Verm. 532; 1 Yeates, 579; 2 Pick. 211.
4. It is an universal rule in equity that once a mortgage, always a
mortgage; 2 Cowen, R. 324; 1 Yeates, R. 584; every attempt, therefore, to
defeat the equity of redemption, must fail. See Equity of Redemption.
5. As to the form, such a mortgage must be in writing, when it is
intended to convey the legal title. 1 Penna. R. 240. It is either in one
single deed which contains the whole contract -- and which is the usual form
-- or, it is two separate instruments, the one containing an absolute
conveyance, and the other a defeasance. 2 Johns. Ch. Rep. 189; 15 Johns. R.
555; 2 Greenl. R. 152; 12 Mass. 456; 7 Pick. 157; 3 Wend, 208; Addis. 357; 6
Watts, 405; 3 Watts, 188; 3 Fairf. 346; 7 Wend. 248. But it may be observed
in general, that whatever clauses or covenants there are in a conveyance,
though they seem to import an absolute disposition or conditional purchase,
yet if, upon the whole, it appears to have been the intention of the parties
that such conveyance should be a mortgage only, or pass an estate
redeemable, a court of equity will always so construe it. Vern. 183, 268,
394; Prec Ch. 95; 1 Wash. R 126; 2 Mass. R. 493; 4 John. R. 186; 2 Cain. Er.
124.
6. As the money borrowed on mortgage is seldom paid on the day
appointed, mortgages have now become entirely subject to the court of
chancery, where it is an established rule that the mortgagee holds the
estate merely as a pledge or security for the repayment of his money;
therefore a mortgage is considered in equity as personal estate.
7. The mortgagor is held to be the real owner of the land, the debt
being considered the principal, and the land the accessory; whenever the
debt is discharged, the interest of the mortgagee in the lands determines of
course, and he is looked on in equity as a trustee for the mortgagor.
8. An equitable mortgage of lands is one where the mortgagor does not
convey regularly the land, but does some act by which he manifests his
determination to bind the same for the security of a debt he owes. An
agreement in writing to transfer an estate as a security for the repayment
of a sum of money borrowed, or even a deposit of title deeds, and a verbal
agreement, will have the same effect of creating an equitable mortgage. 1
Rawle, Rep. 328; 5 Wheat. R. 284; 1 Cox's Rep. 211. But in Pennsylvania
there is no such a thing as an equitable mortgage. 3 P. S. R. 233. Such an
agreement will be carried into execution in equity against the mortgagor, or
any one claiming under him with notice, either actual or constructive, of
such deposit having been made. 1 Bro. C. C. 269; 2 Dick. 759; 2 Anstr. 427;
2 East, R. 486; 9 Ves. jr. 115; 11 Ves. jr. 398, 403; 12 Ves. jr. 6, 192; 1
John. Cas. 116; 2 John. Ch. R. 608; 2 Story, Eq. Jur. Sec. 1020. Miller, Eq.
Mortg. passim.
9. A mortgage of goods is distinguishable from a mere pawn. 5 Verm.
532; 9 Wend. 80; 8 John. 96. By a grant or conveyance of goods in gage or
mortgage, the whole legal title passes conditionally to the mortgagee, and
if not redeemed at the time stipulated, the title becomes absolute at law,
though equity will interfere to compel a redemption. But, in a pledge, a
special property only passes to the pledgee, the general property remaining
in the pledger. There have been some cases of mortgages of chattels, which
have been held valid without any actual possession in the mortgagee; but
they stand upon very peculiar grounds and may be deemed exceptions to the
general rule. 2 Pick. R. 607; 5 Pick. R. 59; 5 Johns. R. 261; Sed vide 12
Mass. R. 300; 4 Mass. R. 352; 6 Mass. R. 422; 15 Mass. R. 477; 5 S. & R.
275; 12 Wend. 277: 15 Wend. 212, 244; 1 Penn. 57. Vide, generally,, Powell
on Mortgages; Cruise, Dig. tit. 15; Viner, Ab. h.t.; Bac. Ab. h.t., Com.
Dig. h.t.; American Digests, generally, h.t.; New, York Rev. Stat. p. 2,
c. 3; 9 Wend. 80; 9 Greenl. 79; 12 Wend. 61; 2 Wend. 296; 3 Cowen, 166; 9
Wend. 345; 12 Wend. 297; 5 Greenl. 96; 14 Pick. 497; 3 Wend. 348; 2 Hall,
63; 2 Leigh, 401; 15 Wend. 244; Bouv. Inst. Index, h.t.
10. It is proper to, observe that a conditional sale with the right to
repurchase very nearly resembles a mortgage; but they are distinguishable.
It is said that if the debt remains, the transaction is a mortgage, but if
the debt is extinguished by mutual agreement, or the money advanced is not
loaned, but the grantor has a right to refund it in a given time, and have a
reconveyance, this is a conditional sale. 2 Edw. R. 138; 2 Call, R. 354; 5
Gill & John. 82; 2 Yerg. R. 6; 6 Yerg. R. 96; 2 Sumner, R. 487; 1 Paige, R.
56; 2 Ball & Beat. 274. In cases of doubt, however, courts of equity will
always lean in favor of a mortgage. 7 Cranch, R. 237; 2 Desaus. 564.
11. According to the laws of Louisiana a mortgage is a right granted to
the creditor over the property of his debtor, for the security of his debt,
and gives him the power of having the property seized and sold in default of
payment. Civ. Code of Lo. art. 3245.
12. Mortgage is conventional, legal or judicial. 1st. The conventional
mortgage is a contract by which a person binds the whole of his property, or
a portion of it only, in favor of another, to secure the execution of some
engagement, but without divesting himself of the possession. Civ. Code, art.
3257.
13.-2d. Legal mortgage is that which is created by operation of law:
this is also called tacit mortgage, because it is established by the law,
without the aid of any agreement. Art. 3279. A few examples will show the
nature of this mortgage. Minors, persons interdicted, and absentees, "have a
legal mortgage on the property of their tutors and curators, as a security
for their administration; and the latter have a mortgage on the property of
the former for advances which they have made. The property of persons who,
without being lawfully appointed curators or tutors of minors, &c.,
interfere with their property, is bound by a legal mortgage from the day on
which the first act of interference was done.
14.-3d. The judicial mortgage is that resulting from judgments,
whether these be rendered on contested cases or by default, whether they be
final or provisional, in favor of the person obtaining them. Art. 3289.
15. Mortgage, with respect to the manner in which it binds the property,
is divided into general mortgage, or special mortgage. General mortgage is
that which binds all the property, present or future, of the debtor. Special
mortgage is that which binds only certain specified property. Art. 3255.
16. The following objects are alone susceptible of mortgage: 1.
Immovables, subject to alienation, and their accessories considered likewise
as immovable. 2. The usufruct of the same description of property with its
accessories during the time of its duration. 3. Slave's. 4. Ships and other
vessels. Art. 3256.
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MORTGAGEE
(bouvier) | MORTGAGEE, estates, contracts. He to whom a mortgage is made.
2. He is entitled to the payment of the money secured to him by the
mortgage; he has the legal estate in the land mortgaged, and may recover it
in ejectment, on the other hand he cannot commit waste; 4 Watts, R. 460; he
cannot make leases to the injury of the mortgagor; and he must account for
the profits he receives out of the thing mortgaged when in possession.
Cruise, Dig. tit. 15, c. 2.
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WELCH MORTGAGE
(bouvier) | WELCH MORTGAGE, Eng. law, contracts. A species of security which partakes of
the nature of a mortgage, as there is a debt due, and an estate is given as
a security for the repayment, but differs from it in the circumstances that
the rents and profits are to be received without account till the principal
money is paid off, and there is no remedy to enforce payment, while the
mortgagor has a perpetual power of redemption.
2. It is a species of vivum vadium. Strictly, however, there is this
distinction between a Welch mortgage and a vivum vadium. In the latter the
rents and profits of the estate are applied to the discharge of the
principal, after paying the interest; while in the former the rents and
profits are received in satisfaction of his interest only. 1 Pow. Mortg.
373, a.
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