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Tags: law
Categories: Economics & Finance
A legal agreement that conveys the conditional right of ownership on an asset or property by its owner (the mortgagor) to a lender (the mortgagee) as security for a loan. The lender’s security interest is recorded in the register of title documents to make it public information, and is voided when the loan is repaid in full.
(source: http://www.businessdictionary.com/definition/mortgage.html#ixzz2M8eQq81k)
