Definition of First mortgage
1. Noun. A mortgage that has priority over all mortgages and liens except those imposed by law.
Lexicographical Neighbors of First Mortgage
Literary usage of First mortgage
Below you will find example usage of this term as found in modern and/or classical literature:
1. United States Supreme Court Reports by Lawyers Co-operative Publishing Company, United States Supreme Court (1890)
"The committee of the first-mortgage bondholders have stated repeatedly in a public way that their road was earning sufficient to pay the interest on the ..."
2. South Eastern Reporter by West Virginia Supreme Court of Appeals, West Publishing Company, South Carolina Supreme Court (1911)
"The legal title and the estate are In the first mortgagee, and the purchaser at the sale under the first mortgage can be no more affected by any subsequent ..."
3. Journal by General Assembly, Pennsylvania General Assembly. Senate, Pennsylvania (1906)
"Delaware River Railroad and Bridge Company, first mortgage 4's, 204000 00 Pittsburg, Cincinnati, Chicago and St. Louis Railway consolidated mortgage 4|'s, ..."
4. A Selection of Leading Cases in Equity: With Notes by Horace Binney Wallace, Frederick Thomas White, John Innes Clark Hare, Owen Davies Tudor (1876)
"... and then mortgages the whole to C., aud afterwards C. purchases in the first mortgage, that shall not protect more than the twenty acres; ..."
5. The Organization and Management of Business Corporations by Walter Collins Clephane (1913)
"Secured by general mortgage on all property, and first mortgage on some property ... First and Refunding Mortgage Bonds (or Refunding first mortgage Bonds). ..."
6. Annual Report by Nebraska Board of Transportation (1888)
"2270000 00 first mortgage bonds Wichita & Colorado Ry 705000 00 first mortgage ... 00 first mortgage bonds Salina, Sterling & El Paso Ry 600000 00 First ..."
7. The Merchants' Magazine and Commercial Review by Isaac Smith Homans, William Buck Dana (1856)
"demption of the first mortgage, but ho, by payment under euch a decree, ... He pays his debt, and the first mortgage becomes thereby satisfied. ..."