Second mortgage
Defined in 2 dictionaries — Ballentine's (1916), Black's (1910)
Ballentine's Law Dictionary
James A. Ballentine · 1916
One over which another one has priority.
Black's Law Dictionary
Henry Campbell Black, M.A. · 1910
One which takes rank immediately after & first mortgage on the same property, without any intervening liens, and is next entitled to satisfaction out of the proceeds of the property. Green's Appeal, 97 Pa. 347. Properly speaking, however, the term designates the second of a series of mortgages, not necessarily the second lien. For instance, the lien of a judgment might intervene between the first and second mortgages; in which case, the second mortgage would be the third lien.
Defined under Mortgage in Black's Law Dictionary.