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Meaning of submortgage | Babel Free

Noun CEFR C1

Definitions

A secured loan whereby a mortgagee uses his interest in a mortgage as collateral on a loan with a third party, in effect transferring or assigning the mortgage thereto.

countable, uncountable

Examples

“The amount secured by the submortgage can never exceed the amount secured by the original mortgage.”

CEFR level

C1
Advanced
This word is part of the CEFR C1 vocabulary — advanced level.
See all C1 English words →

See also

submortgagee submotif submotivation submountain submovement submucosa

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