mortgage

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mortgage,

n a right given to the creditor over the property of the debtor for the security of the debt; invests the creditor with the power to have the property seized and sold in default of payment.
References in periodicals archive ?
If they must pay for the unit before it is complete, they will need to come up with all of the acquisition funds before they have the mortgageable asset their lender is sure to demand.
The partners were influential in creating new structures for finance and distribution and treating movies as mortgageable assets.
With more than 120 home loan applications for every 100 mortgageable units, Rogers Park was the city's most popular destination in 2003.
Firms appoint directors from the banking industry when they borrow heavily, when the firm has fewer mortgageable assets, or when the firm itself is in the service and finance industry.
Indirect advantages arise in various ways: owned land can serve as collateral for credit or as a mortgageable or saleable asset during a crisis.