submortgage

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noun

A secured loan whereby a mortgagee uses his interest in a mortgage as collateral on a loan with a third party, in effect transferring or assigning the mortgage thereto.

Scrabble 17
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Meanings

nounsubmortgage (countable and uncountable, plural submortgages)

plural submortgages

  1. countableuncountablelawA secured loan whereby a mortgagee uses his interest in a mortgage as collateral on a loan with a third party, in effect transferring or assigning the mortgage thereto.

    The amount secured by the submortgage can never exceed the amount secured by the original mortgage.

    2016, David Osborne, Graeme Bowtle & Charles Buss, chapter 3, in The Law of Ship Mortgages, page 61

Origin

From sub- + mortgage.

Full word history & related roots →
Cite this entry
APA

submortgage. (n.d.). In WatkinsX Dictionary. Retrieved November 3, 2026, from https://dictionary.watkinsx.com/word/submortgage

MLA

“submortgage.” WatkinsX Dictionary, https://dictionary.watkinsx.com/word/submortgage. Accessed November 3, 2026.

Chicago

WatkinsX Dictionary, s.v. “submortgage,” accessed November 3, 2026, https://dictionary.watkinsx.com/word/submortgage.

Source: submortgage on Wiktionary, CC BY-SA 4.0.