- a mortgage having priority over other mortgages on property.
Origin of first mortgage
First recorded in 1850–55
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018
Examples from the Web for first mortgage
The bid at the sale covered the first-mortgage lien and the entire mortgage claim of the Government, principal and interest.State of the Union Addresses of William McKinley
- a mortgage that has priority over other mortgages on the same property, except for taxation and other statutory liabilities
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012