Practical Legal Guidance
Mortgage
The transfer of an interest in immovable property to secure repayment of money advanced.
Detailed Meaning
A mortgage transfers an interest in specific immovable property to secure repayment of a loan or the performance of an engagement giving rise to a pecuniary liability, and takes several statutorily defined forms (simple, usufructuary, English, equitable/by deposit of title deeds, among others), each with different rights and remedies on default.
Authoritative Sources & Provenance
Related Concepts
General legal information for reference only, reviewed for accuracy but not a substitute for advice from a qualified advocate on your specific facts.