Mortgage Charge
/ˈmɔːrɡɪdʒ ˈtʃɑːrdʒ/
Definitions
- (n.) A security interest or encumbrance on real property given by the owner to secure repayment of a loan.
The lender registered a mortgage charge against the property to secure the repayment of the loan.
- (n.) A charge created by a mortgage deed, imposing a lien over the property until the debt is discharged.
The mortgage charge prevents the owner from selling the property without clearing the debt.
Forms
- mortgage charges
Related terms
See also
Commentary
The term "mortgage charge" specifically refers to the charge or lien created by a mortgage; it is distinct from the mortgage deed itself. Draftsmen should distinguish the mortgage charge as the security interest from the underlying document.
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.