Glossary

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Mortgage definition

Right granted to a creditor as a debt security. (Generally) based on a building, the mortgage allows the creditor, in case of non-payment of the debt, to sell the building to be paid pay on the sale price. The mortgage is not intended to remove the mortgaged property from the debtor's assets. The debtor may still make free use of it. The property may be sold or given, while the creditor still retains the possibility to ask for said property's sale.

Mortgage

Right granted to a creditor as a debt security. (Generally) based on a building, the mortgage allows the creditor, in case of non-payment of the debt, to sell the building to be paid pay on the sale price. The mortgage is not intended to remove the mortgaged property from the debtor's assets. The debtor may still make free use of it. The property may be sold or given, while the creditor still retains the possibility to ask for said property's sale.