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A mortgage is the transfer of an interest in property to a lender as a security for a debt – usually a loan of money.
For reason a mortgage in itself is not a debt, it is the lender’s security for a debt.
It is a transfer of an interest in land from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed.
In simple words, the mortgage is a security for the loan that the lender makes to the borrower.
