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A '''mortgage''' is granting of a [[lien]] on real property, such as a home, by a [[debtor]] (borrower) to his [[creditor]] (lender), such that the property is security for the repayment on a [[loan]]. Once the loan is paid, the mortgage is discharged.
A '''mortgage''' is granting of a [[lien]] on real property, such as a home, by a [[debtor]] (borrower) to his [[creditor]] (lender), such that the property is security for the repayment on a [[loan]]. Once the loan is paid, the mortgage should be discharged.
[[Category:Legal Terms]]
Hypothecation refers to the right that a creditor has to liquidate goods, securities, or other [[assets]], if you fail to service a loan.
== See also ==
*[[Glossary of Budget Terms]]
*[[Accounting]]
*[[Free Enterprise]]
== External links ==
== External links ==
*[http://dictionary.law.com/ Law Dictionary]
*[http://dictionary.law.com/ Law Dictionary]
*[http://research.lawyers.com/glossary/ Glossary of Legal Terms]
*[http://research.lawyers.com/glossary/ Glossary of Legal Terms]
*[http://www.myvakil.com/search/Faq.asp?FaqId=18 What is Hypothecation?]
[[Category:Legal Terms]]
[[Category:Business]]
[[Category:Accounting]]
[[Category:Finance]]