Mortgage Agreement
/ˈmɔːɡɪdʒ əˈɡriːmənt/
Definitions
- (n.) A legal contract wherein a borrower grants a lender a security interest in real property as collateral for a loan.
The parties signed the mortgage agreement before the house purchase was finalized.
Forms
- mortgage agreement
- mortgage agreements
Related terms
See also
Commentary
Mortgage agreements must clearly set out terms like loan amount, interest, and default conditions to ensure 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.