| Webster's Online Dictionary |
| Expressions | Domain | Definition | |
| Equitable mortgage | Finance | An instrument that because of a technical error in its terms is not actually a mortgage, but that encumbers property as security for the repayment of a debt. If the intent of the parties was to create a mortgage, the instrument is enforceable under the law. (references) | |
| Equitable mortgage | Law | EQUITABLE MORTGAGE, Eng. law. 1. 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. (references) | |
Source: compiled by the editor from various references; see credits. | Top | ||
