Meaning of “equitable mortgage” in the English Dictionary

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"equitable mortgage" in Business English

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equitable mortgagenoun [ C ]

uk us PROPERTY, LAW

a mortgage that does not satisfy all the conditions of a legal mortgage, but means the lender must use a court of law to get possession of the property if the loan is not paid back

(Definition of “equitable mortgage” from the Cambridge Business English Dictionary © Cambridge University Press)