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The word is a Law French term meaning "dead pledge," originally only referring to the Welsh mortgage (see below), but in the later Middle Ages was applied to all gages and reinterpreted by folk etymology to mean that the pledge ends (dies) either when the obligation is fulfilled or the property is taken through foreclosure. [1]
Accordingly, upon the grant of a mortgage, the mortgagee would come into possession of the land - if the income arising from the land paid down the mortgage debt it was referred to as a live pledge (or vivum vaidum) but if the mortgagee simply took those proceeds and the debt was unchanged it was called a dead pledge (originally a mortuum ...
A mortgage loan or simply mortgage (/ ˈ m ɔːr ɡ ɪ dʒ /), in civil law jurisdictions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged.
A pledge is a bailment that conveys title to property owned by a debtor (the pledgor) to a creditor (the pledgee) to secure repayment for some debt or obligation and to the mutual benefit of both parties. [1] [2] The term is also used to denote the property which constitutes the security. [3] The pledge is a type of security interest.
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Potentially incriminating text messages were revealed during a hearing in the case of a Penn State student who died during an alleged hazing incident.
In 14 states, votes contrary to the pledge are voided and the respective electors are replaced, and in two of these states they may also be fined. Three other states impose a penalty on faithless electors but still count their votes as cast. [1] Colorado was the first state to void an elector's faithless vote, which occurred during the 2016 ...
now a variety of security interests, either made by conveyance or hypothecation, but originally a pledge by which the landowner remained in possession of the property he staked as security. mortmain: mort + main meaning "dead hand" perpetual, inalienable ownership of land by the "dead hand" of an organization, usually the church. oyer et terminer