Mortgage

An estate created by a conveyance absolute in its form, butintended to secure the performance of some act, such as the payment of money, and the like, by the terms prescribed at the time of making such conveyance.

1 Washb. Real Prop. *475.

A conditional conveyance of land, designed as a security for the payment of money, the fulfillment of some contract, or the performance of some act, and to be void upon such payment, fulfillment, or performance. 44 Me. 299, A debt by specialty, secured by a pledge of lands, of which the legal ownership is vested in the creditor, but of which, in equity, the debtor and those claiming under him remain the actual owners, until debarred by judicial sentence or theirown laches.

Coole, Mortg. 1.

Mortgage is a right granted to the creditor over the property of the debtor for the security of his debt, and gives him the power of having the property seized and sold in de fault of payment. Civil Code La. art.

3278.

Mortgage is a contract by which specific property is hypothecated for the performance of an act, without the necessity of a ehange of possession.

Civil Code Cal. § 2920.

In the law of Louisiana. The conventionul mortgage is a contract by which a person binds the whole of his property, or a portion of it only, in favor of another, to secure the execution of some engagement, but without divesting himself of the possession. Civil Code La. art.

3290.

The judicial mortgage is that resulting from judgments (whether these be rendered on contested cases or by default, or whether they be final or provisional) in favor of the person obtaining them. Civil Code La, art. 3321, The law alone in certain cases gives to the ereditor a mortgage on the property of his debtor, without it being requisite that the parties should stipulate it. This is called “legal mortgage.” It is called also “tacit mortgage,” because it is established by the law without the aid of any agreement. Civil Code La. art.

3311.