different between mortgage vs allodial

English

Alternative forms

• morgage (obsolete)

Etymology

From Anglo-Norman morgage, Middle French mortgage, from Old French mort gage (“death pledge”), after a translation of judicial Medieval Latin mortuum vadium or mortuum wadium, from mortuum + vadium or wadium, of Germanic (Frankish) origin, from a root *waddi, wadja. Compare gage and also wage. So called because the deal dies either when the debt is paid or when payment fails.

Pronunciation

• (UK) IPA^(key): /?m??.??d?/
• (US) IPA^(key): /?m??.??d?/

Noun

mortgage (plural mortgages)

1. (law) A special form of secured loan where the purpose of the loan must be specified to the lender, to purchase assets that must be fixed (not movable) property, such as a house or piece of farm land. The assets are registered as the legal property of the borrower but the lender can seize them and dispose of them if they are not satisfied with the manner in which the repayment of the loan is conducted by the borrower. Once the loan is fully repaid, the lender loses this right of seizure and the assets are then deemed to be unencumbered.

2. (obsolete) State of being pledged.

Derived terms

• anaconda mortgage
• mortgage-backed

Translations

Verb

mortgage (third-person singular simple present mortgages, present participle mortgaging, simple past and past participle mortgaged)

1. (transitive, law) To borrow against a property, to obtain a loan for another purpose by giving away the right of seizure to the lender over a fixed property such as a house or piece of land; to pledge a property in order to get a loan.

2. (transitive, figuratively) To pledge and make liable; to make subject to obligation; to achieve an immediate result by paying for it in the long term.

Related terms

• mortgagee
• mortgager

Translations

English

Etymology

From Middle French allodial, and its source, Latin allodialis (“held in freehold”), from allodium.

Pronunciation

• IPA^(key): /??l??di?l/

Adjective

allodial (not comparable)

1. (historical) Pertaining to land owned by someone absolutely, without any feudal obligations; held without acknowledgement of any superior. [from 17th c.]
   • 2016, Peter H. Wilson, The Holy Roman Empire, Penguin 2017, p. 351:

     Henry reconciled the Zähringer, whom he had deposed from Carinthia in 1078, by raising their allodial property in the Black Forest to a new duchy 20 years later.

Derived terms

• allodialist
• allodially

See also

• allodial title

Translations

Noun

allodial (plural allodials)

1. Anything held allodially.

   (Can we find and add a quotation of W. Coxe to this entry?)

French

Adjective

allodial (feminine singular allodiale, masculine plural allodiaux, feminine plural allodiales)

1. allodial

Further reading

• “allodial” in Trésor de la langue française informatisé (The Digitized Treasury of the French Language).