59 CJS § 2 Mortgages Definitions “The literal meaning of the - TopicsExpress

59 CJS § 2 Mortgages Definitions “The literal meaning of the word “mortgage” is “dead pledge” a mortuum vadium. The term mortgage may be employed as meaning the debt secured by the mortgage, but in its true sense an ordinary mortgage is not a debt as the debt is the principle obligation, and the mortgage is generally regarded as merely an incident or accessory to the debt. A mortgage is an interest in the land created by a written instrument providing security for the performance of a duty or payment of debt and is usually evidenced by a note.

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