Deed-Of-Trust and Mortgage

Deed-Of-Trust

Deed of trust may refer to:

Transactions involving trust deeds are normally structured, at least in theory, so that the lender gives the borrower/trustor the money to buy the property; the borrower/trustor tenders the money to the seller; the seller executes a grant deed giving the property to the borrower/trustor; and the borrower/trustor immediately executes a trust deed giving the property to the trustee to be held in trust for the lender/beneficiary.

deed of trust n : a written instrument legally conveying property to a trustee often used to secure an obligation such as a mortgage or promissory note [syn: {trust deed}]

Mortgage

A mortgage loan is a loan secured by real property through the use of a mortgage note which evidences the existence of the loan and the encumbrance of that realty through the granting of a mortgage which secures the loan.

mortgage n : a conditional conveyance of property as security for the repayment of a loan v : put up as security or collateral

41 Moby Thesaurus words for "mortgage": adjustment mortgage, antichresis, blanket mortgage, bond, bottomry, bottomry bond, chattel mortgage, closed mortgage, dead pledge, deed of trust, deposit, dip, first mortgage, go bail, handsel, hock, hypothec, hypothecate, hypothecation, impignorate, installment mortgage, leasehold mortgage, lien, living pledge, mortgage deed, mortuum vadium, participating mortgage, pawn, pledge, post, put in hock, put in pawn, put up, second mortgage, security agreement, spout, stake, third mortgage, trust mortgage, vadium mortuum, vadium vivum

Mortgage \Mort"gage\ (m[^o]r"g[asl]j; 48), n. [F. mort-gage; mort dead (L. mortuus) + gage pledge. See {Mortal}, and {Gage}.] 1. (Law) A conveyance of property, upon condition, as security for the payment of a debt or the preformance of a duty, and to become void upon payment or performance according to the stipulated terms; also, the written instrument by which the conveyance is made. [1913 Webster] Note: It was called a mortgage (or dead pledge) because, whatever profit it might yield, it did not thereby redeem itself, but became lost or dead to the mortgager upon breach of the condition. But in equity a right of redemption is an inseparable incident of a mortgage until the mortgager is debarred by his own laches, or by judicial decree. --Cowell. --Kent. [1913 Webster] 2. State of being pledged; as, lands given in mortgage. [1913 Webster] {Chattel mortgage}. See under {Chattel}. {To foreclose a mortgage}. See under {Foreclose}. {Mortgage deed} (Law), a deed given by way of mortgage. [1913 Webster]

Mortgage \Mort"gage\, v. t. [imp. & p. p. {Mortgaged}; p. pr. & vb. n. {Mortgaging}.] 1. (Law) To grant or convey, as property, for the security of a debt, or other engagement, upon a condition that if the debt or engagement shall be discharged according to the contract, the conveyance shall be void, otherwise to become absolute, subject, however, to the right of redemption. [1913 Webster] 2. Hence: To pledge, either literally or figuratively; to make subject to a claim or obligation. [1913 Webster] Mortgaging their lives to covetise. --Spenser. [1913 Webster] I myself an mortgaged to thy will. --Shak. [1913 Webster]

Record \Re*cord"\ (r?*k?rd"), v. t. [imp. & p. p. {Recorded}; p. pr. & vb. n. {Recording}.] [OE. recorden to repeat, remind, F. recorder, fr. L. recordari to remember; pref. re- re- + cor, cordis, the heart or mind. See {Cordial}, {Heart}.] 1. To recall to mind; to recollect; to remember; to meditate. [Obs.] ``I it you record.'' --Chaucer. [1913 Webster] 2. To repeat; to recite; to sing or play. [Obs.] [1913 Webster] They longed to see the day, to hear the lark Record her hymns, and chant her carols blest. --Fairfax. [1913 Webster] 3. To preserve the memory of, by committing to writing, to printing, to inscription, or the like; to make note of; to write or enter in a book or on parchment, for the purpose of preserving authentic evidence of; to register; to enroll; as, to record the proceedings of a court; to record historical events. [1913 Webster] Those things that are recorded of him . . . are written in the chronicles of the kings. --1 Esd. i. 42. [1913 Webster] {To record a deed}, {mortgage}, {lease}, etc., to have a copy of the same entered in the records of the office designated by law, for the information of the public. [1913 Webster]

Data Sources:

  • deed-of-trust: WordNet (r) 2.0
  • mortgage: WordNet (r) 2.0
  • mortgage: Moby Thesaurus II by Grady Ward, 1.0
  • mortgage: The Collaborative International Dictionary of English v.0.44
  • mortgage: The Collaborative International Dictionary of English v.0.44
  • mortgage: The Collaborative International Dictionary of English v.0.44

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