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Mortgage From Wikipedia, the free encyclopedia This article is about the legal mechanism used to secure the performance of obligations, including the payment of debts, with property. For loans secured by mortgages, such as residential housing loans, and lending practices or requirements, see Mortgage loan. Property law Part of the common law series Acquisition of property Gift · Adverse possession · Deed Lost, mislaid, or abandoned Treasure trove Alienation · Bailment · License Estates in land Allodial title · Fee simple · Fee tail Life estate · Defeasible estate Future interest · Concurrent estate Leasehold estate · Condominiums Conveyancing of interests in land Bona fide purchaser Torrens title · Strata title Estoppel by deed · Quitclaim deed Mortgage · Equitable conversion Action to quiet title Limiting control over future use Restraint on alienation Rule against perpetuities Rule in Shelley's Case Doctrine of worthier title Nonpossessory interest in land Easement · Profit Covenant running with the land Equitable servitude Related topics Fixtures · Waste · Partition Riparian water rights Lateral and subjacent support Assignment · Nemo dat Other areas of the common law Contract law · Tort law Wills and trusts Criminal Law · Evidence A mortgage is the pledging of a property to a lender as a security for a mortgage loan. While a mortgage in itself is not a debt, it is evidence of a debt. It is a transfer of an interest in land, from the owner to the mortgage lender, on the condition that this interest will be returned to the owner of the real estate when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower. The term comes from the Old French "dead pledge," apparently meaning that the pledge ends (dies) either when the obligation is fulfilled or the property is taken through foreclosure.[1] In most jurisdictions mortgages are strongly associated with loans secured on real estate rather than other property (such as ships) and in some cases only land may be mortgaged. Arranging a mortgage is seen as the standard method by which individuals and businesses can purchase residential and commercial real estate without the need to pay the full value immediately. See mortgage loan for residential mortgage lending, and commercial mortgage for lending against commercial property. In many countries it is normal for home purchases to be funded by a mortgage. In countries where the demand for home ownership is highest, strong domestic markets have developed, notably in Spain, the United Kingdom, the Commonwealth of Australia and the United States.