submortgage

submortgage. A mortgage created when a person holding a mortgage as security for a loan procures another loan from a third party and pledges the mortgage as security; a loan to a mortgagee who puts up the mortgage as collateral or security for the loan.

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词条贡献者

双语律师Benita，国际知名法学院金融专业，擅长翻译各类与项目开发及融资相关的法律文件。