Welsh Mortgage in United States
Welsh Mortgage Definition
In English law. A species of security which partakes of the nature of a mortgage, as there is a debt due, and an estate is given as a security for the repayment, but differs from it in the circumstances that the rents and profits are to be received without account till the principal money is paid off, and there is no remedy to enforce payment, while the mortgagor has a perpetual power of redemption. It is a species of vivum vadium. Strictly, however, there is this distinction between a Welsh mortgage and a vivum vadium, in the latter, the rents and profits of the estate are applied to the discharge of the principal after paying the interest; while in the former, the rents and profits are received in satisfaction of his interest only. 1 Powell, Mortg. 373a.
Welsh Mortgage in Foreign Legal Encyclopedias
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Welsh Mortgage | Welsh Mortgage in the World Legal Encyclopedia. |
Welsh Mortgage | Welsh Mortgage in the European Legal Encyclopedia. |
Welsh Mortgage | Welsh Mortgage in the Asian Legal Encyclopedia. |
Welsh Mortgage | Welsh Mortgage in the UK Legal Encyclopedia. |
Welsh Mortgage | Welsh Mortgage in the Australian Legal Encyclopedia. |
For starting research in the law of a foreign country:
Browse the American Encyclopedia of Law for Welsh Mortgage
Scan Welsh Mortgage in the appropriate area of law:
Link | Description |
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Welsh Mortgage | Welsh Mortgage in the Family Law Portal of the American Encyclopedia of Law. |
Welsh Mortgage | Welsh Mortgage in the IP Portal of the American Encyclopedia of Law. |
Welsh Mortgage | Welsh Mortgage in the Commercial Law Portal of the American Encyclopedia of Law. |
Welsh Mortgage | Welsh Mortgage in the Criminal Law Portal of the American Encyclopedia of Law. |
Welsh Mortgage | Welsh Mortgage in the Antritrust Portal of the American Encyclopedia of Law. |
Welsh Mortgage | Welsh Mortgage in the Bankruptcy Law Portal of the American Encyclopedia of Law. |
Welsh Mortgage | Welsh Mortgage in the Constitutional Law Portal of the American Encyclopedia of Law. |
Welsh Mortgage | Welsh Mortgage in the Tax Law Portal of the American Encyclopedia of Law. |
Welsh Mortgage | Welsh Mortgage in the and Finance and Banking Portal of the American Encyclopedia of Law. |
Welsh Mortgage | Welsh Mortgage in the Employment and Labor Portal of the American Encyclopedia of Law. |
Welsh Mortgage | Welsh Mortgage in the Personal Injury and Tort Portal of the American Encyclopedia of Law. |
Welsh Mortgage | Welsh Mortgage in the Environmental Law Portal of the American Encyclopedia of Law. |
Explore other Reference Works
Resource | Description |
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Welsh Mortgage in the Dictionaries | Welsh Mortgage in our legal dictionaries |
http://lawi.us/welsh-mortgage | The URI of Welsh Mortgage (more about URIs) |
Welsh Mortgage related entries | Find related entries of Welsh Mortgage |
Legal Issue for Attorneys
In English law. A species of security which partakes of the nature of a mortgage, as there is a debt due, and an estate is given as a security for the repayment, but differs from it in the circumstances that the rents and profits are to be received without account till the principal money is paid off, and there is no remedy to enforce payment, while the mortgagor has a perpetual power of redemption. It is a species of vivum vadium. Strictly, however, there is this distinction between a Welsh mortgage and a vivum vadium, in the latter, the rents and profits of the estate are applied to the discharge of the principal after paying the interest; while in the former, the rents and profits are received in satisfaction of his interest only. 1 Powell, Mortg. 373a.
Notice
This definition of Welsh Mortgage is based on The Cyclopedic Law Dictionary. This entry needs to be proofread.