Mortgage Deed (Noun)
Meaning
Deed embodying a mortgage.
Classification
Nouns denoting communicative processes and contents.
Examples
- The mortgage deed outlined the borrower's obligations to repay the loan with interest.
- Before handing over the keys to the property, the owner must first finalize the mortgage deed.
- In the event of default, the lender reserves the right to repossess the property as stated in the mortgage deed.
- A mortgage deed is typically registered with the local land authority to create a public record of the mortgage.
- The lawyer reviewed the mortgage deed carefully to ensure that it accurately reflected the terms agreed upon by both parties.