Aircraft Mortgage
/ˈɛərˌkræft ˈmɔːrɡɪdʒ/
Definitions
- (n.) A security interest in an aircraft granted by the owner to a lender as collateral for a loan.
The bank secured its loan by registering an aircraft mortgage on the jet.
Forms
- aircraft mortgage
- aircraft mortgages
Related terms
See also
Commentary
An aircraft mortgage is a specialized form of chattel mortgage governed by aviation and financial regulations, requiring precise drafting to ensure priority and enforceability.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.