Encyclopedia of Early Modern History Online

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(1,038 words)

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.

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Löhnig, Martin, “Mortgage”, in: Encyclopedia of Early Modern History Online, Editors of the English edition: Graeme Dunphy, Andrew Gow. Original German Edition: Enzyklopädie der Neuzeit. Im Auftrag des Kulturwissenschaftlichen Instituts (Essen) und in Verbindung mit den Fachherausgebern herausgegeben von Friedrich Jaeger. Copyright © J.B. Metzlersche Verlagsbuchhandlung und Carl Ernst Poeschel Verlag GmbH 2005–2012. Consulted online on 28 May 2023 <http://dx.doi.org/10.1163/2352-0272_emho_COM_020489>
First published online: 2015
First print edition: 20200128

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