senior mortgage


senior mortgage
A mortgage, the lien of which is entitled to or priority over that of a junior mortgage or other incumbrance.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • senior mortgage — see mortgage Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • senior mortgage bond — A bond that, in the event of bankruptcy, will be redeemed before any other bonds are repaid. Bloomberg Financial Dictionary …   Financial and business terms

  • mortgage — mort·gage 1 / mȯr gij/ n [Anglo French, from Old French, from mort dead (from Latin mortuus ) + gage security] 1 a: a conveyance of title to property that is given to secure an obligation (as a debt) and that is defeated upon payment or… …   Law dictionary

  • mortgage — /morgaj/ A mortgage is an interest in land created by a written instrument providing security for the performance of a duty or the payment of a debt. At common law, an estate created by a conveyance absolute in its form, but intended to secure… …   Black's law dictionary

  • mortgage — /morgaj/ A mortgage is an interest in land created by a written instrument providing security for the performance of a duty or the payment of a debt. At common law, an estate created by a conveyance absolute in its form, but intended to secure… …   Black's law dictionary

  • mortgage bond — In the USA, a bond in which a debt is secured by a real asset (land or property). Senior mortgage bonds have first claim on assets and junior mortgage bonds are subordinate. A mortgage bond may have a closed end provision, which prevents an… …   Accounting dictionary

  • mortgage bond — In the USA, a bond in which a debt is secured by a real asset (land or property). Senior mortgage bonds have first claim on assets and junior mortgage bonds are subordinate. A mortgage bond may have a closed end provision, which prevents an… …   Big dictionary of business and management

  • Mortgage fraud — is crime in which the intent is to materially misrepresent or omit information on a mortgage loan application to obtain a loan or to obtain a larger loan than would have been obtained had the lender or borrower known the truth. In United States… …   Wikipedia

  • mortgage-backed security — A kind of investment backed by mortgage loans that have been packaged into pools in the secondary mortgage market. Payments on the mortgages generate the return on investment for the people who invest in these securities. Category: Bankruptcy,… …   Law dictionary

  • mortgage-backed securities — International mortgage backed securities, Also referred to as MBS. debt securities (debt security) (such as bonds or notes), which are issued by a special purpose vehicle in the course of a securitisation and backed, that is funded by and secured …   Law dictionary


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