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单词 Welsh mortgage
释义

Definition of Welsh mortgage in English:

Welsh mortgage

noun
Finance historical
  • A mortgage in which the mortgaged property is conveyed to the creditor, who receives rent and profits in lieu of interest without power of sale, the borrower being able to redeem the property at any time upon payment of the principal.

Origin

Early 18th century; earliest use found in Cases High Court of Chancery.

Definition of Welsh mortgage in US English:

Welsh mortgage

noun
Finance historical
  • A mortgage in which the mortgaged property is conveyed to the creditor, who receives rent and profits in lieu of interest without power of sale, the borrower being able to redeem the property at any time upon payment of the principal.

Origin

Early 18th century; earliest use found in Cases High Court Chancery.

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更新时间:2024/12/27 19:50:11