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Second mortgage
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Second mortgage A second mortgage is another loan secured by the property much like a first mortgage. It is a loan which is subordinate to the first mortgage.
RELATED TERMS--------------------------------------
Second
A measure equal to one sixtieth part of a minute.
Mortgage
A legal instrument that creates a lien upon real estate securing the payment of a specific debt.
Loan
1) A loan in general implies that a thing is lent without reward; but, in some cases, a loan may be for a reward; as, the loan of money. 2) Contracts. The act by which a person lets another have a thing to be used by him gratuitously, and which is to be returned, either in specie or in kind, agreeably to the terms of the contract. The thing which is thus transferred is also called a loan.
Property
Property is commonly thought of as a thing which belongs to someone and over which a person has total control. But, legally, it is more properly defined as a collection of legal rights over a thing. These rights are usually total and fully enforceable by the state or the owner against others. It has been said that "property and law were born and die together. Before laws were made there was no property. Take away laws and property ceases." before laws were written and enforced, property had no relevance. Possession was all that mattered. There are many classifications of property, the most common being between real property or immoveable property (real estate such as land or buildings) and "chattel", or "moveable" (things which are not attached to the land such as a bicycle, a car or a hammer) and between public (property belonging to everybody or to the state) and private property.
SIMILAR TERMS--------------------------------------
Second
A measure equal to one sixtieth part of a minute.
Second deliverance
Practice. The name of a writ given by statute of Westminster the second, founded on the record of a former action of replevin.It commands the sheriff, if the plaintiff make him secure of prosecuting his claim, and returning the chattels which were adjudged to the defendant by reason of the plaintiff's default, to make deliver-ance. On being nonsuited, the plaintiff in replevin might, at common law, have brought another replevin, and so in infinitum, to the intolerable vexation of the defendant.
Second surcharge, writ of
The name of a writ issued in England against a commoner who has a second time surcharged the common.
Secondary
1) Construction. That which comes after the first, which is primary: as, the primary law of, nations the secondary law of nations. 2) English law. An officer who is second or next to the chief officer; as secondaries to the prothonotaries of the courts of king's bench, or common pleas; secondary of the remembrancer in the exchequer.
Secondary authority
Legal encyclopedias, treatises, legal texts, law review articles, and citators. Writings which set forth the opinion of the writer as to the law.
Secondary evidence
That species of proof which is admissible on the loss of primary evidence, and which becomes, by that event, the best evidence.
Seconds
Criminal law. Those persons who assist, direct and support others engaged in fighting a duel.
PREVIOUS AND NEXT TERMS--------------------------------------
Second mortgage
State law
In the United States, this concept means a constitution, statute, regulation, rule, common law, or other State action having the force and effect of law (as opposite to federal law).
Social security law
The particular area of the legal profession dealing with social security.
Stupid law
Many laws are stupid as the government tries to overregulate markets and societies.
Supreme Court
A supreme court in some countries, provinces, and states, represents the highest court in that jurisdiction and it is considered as a court of last resort whose rulings cannot be appealed.
Simon, Henry R
New York lawyer.
RELATED TERMS--------------------------------------
Second
A measure equal to one sixtieth part of a minute.
Mortgage
A legal instrument that creates a lien upon real estate securing the payment of a specific debt.
Loan
1) A loan in general implies that a thing is lent without reward; but, in some cases, a loan may be for a reward; as, the loan of money. 2) Contracts. The act by which a person lets another have a thing to be used by him gratuitously, and which is to be returned, either in specie or in kind, agreeably to the terms of the contract. The thing which is thus transferred is also called a loan.
Property
Property is commonly thought of as a thing which belongs to someone and over which a person has total control. But, legally, it is more properly defined as a collection of legal rights over a thing. These rights are usually total and fully enforceable by the state or the owner against others. It has been said that "property and law were born and die together. Before laws were made there was no property. Take away laws and property ceases." before laws were written and enforced, property had no relevance. Possession was all that mattered. There are many classifications of property, the most common being between real property or immoveable property (real estate such as land or buildings) and "chattel", or "moveable" (things which are not attached to the land such as a bicycle, a car or a hammer) and between public (property belonging to everybody or to the state) and private property.
SIMILAR TERMS--------------------------------------
Second
A measure equal to one sixtieth part of a minute.
Second deliverance
Practice. The name of a writ given by statute of Westminster the second, founded on the record of a former action of replevin.It commands the sheriff, if the plaintiff make him secure of prosecuting his claim, and returning the chattels which were adjudged to the defendant by reason of the plaintiff's default, to make deliver-ance. On being nonsuited, the plaintiff in replevin might, at common law, have brought another replevin, and so in infinitum, to the intolerable vexation of the defendant.
Second surcharge, writ of
The name of a writ issued in England against a commoner who has a second time surcharged the common.
Secondary
1) Construction. That which comes after the first, which is primary: as, the primary law of, nations the secondary law of nations. 2) English law. An officer who is second or next to the chief officer; as secondaries to the prothonotaries of the courts of king's bench, or common pleas; secondary of the remembrancer in the exchequer.
Secondary authority
Legal encyclopedias, treatises, legal texts, law review articles, and citators. Writings which set forth the opinion of the writer as to the law.
Secondary evidence
That species of proof which is admissible on the loss of primary evidence, and which becomes, by that event, the best evidence.
Seconds
Criminal law. Those persons who assist, direct and support others engaged in fighting a duel.
PREVIOUS AND NEXT TERMS--------------------------------------
Second mortgage
State law
In the United States, this concept means a constitution, statute, regulation, rule, common law, or other State action having the force and effect of law (as opposite to federal law).
Social security law
The particular area of the legal profession dealing with social security.
Stupid law
Many laws are stupid as the government tries to overregulate markets and societies.
Supreme Court
A supreme court in some countries, provinces, and states, represents the highest court in that jurisdiction and it is considered as a court of last resort whose rulings cannot be appealed.
Simon, Henry R
New York lawyer.
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This dictionary contains 8526 terms.
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