Meaning Of The Word First mortgage

Real Dictionary

What's the definition of First mortgage? Find First mortgage meanings, definitions and more at the Real Dictionary online.

First mortgage Meaning

First mortgage Definition
First mortgage Definition

What's The Definition Of First mortgage?

first mortgage in American English
a mortgage having priority over all other liens or encumbrances on the same property, except those, as real estate taxes, given priority by statute
noun: a mortgage having priority over other mortgages on property

first mortgage in British English
noun: a mortgage that has priority over other mortgages on the same property, except for taxation and other statutory liabilities

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