purchase money mortgage

A mortgage that a buyer gives the seller, when the property is conveyed, to secure the unpaid balance of the purchase price. — Abbr. PMM. See SECURITY AGREEMENT. [Cases: Mortgages 1, 115. C.J.S. Mortgages §§ 2–6, 151.]

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译员Shifang，毕业于国内一流的高级翻译学院，专注翻译各种与员工福利与高管薪酬有关的法律文件。