Welsh mortgage

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English[edit]

Noun[edit]

Welsh mortgage (plural Welsh mortgages)

  1. A kind of mortgage, being a conveyance of an estate, redeemable at any time on payment of the principal, with an understanding that the profits in the meantime shall be received by the mortgagee without account, in satisfaction of interest.
    (Can we find and add a quotation of Burrill to this entry?)

Part or all of this entry has been imported from the 1913 edition of Webster’s Dictionary, which is now free of copyright and hence in the public domain. The imported definitions may be significantly out of date, and any more recent senses may be completely missing.