1. Definition
A mortgage is a lien (Pledge, law of) on a piece of real property. It serves as security for debts, especially for credit, and makes the property liable for the secured debt, so that the creditor has a claim on the property if the debtor defaults. There were two different types of mortgage in the early modern period: the hypothec (see 2. below), in use throughout the period, and the land charge (see 3. below), which came into use toward the end of the period.