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Equitable Mortgage |
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Equitable Mortgage(1) A lien against real property (mortgage)which is enforceable in a court of equity, but does not legally constitute a mortgage. (2) A deed given as security for a debt will be held to be a mortgage rather than a transfer of title. Also called a constructive mortgage.Equitable Mortgage Similar MatchesEquitable ConversionEquitable ConversionA legal fiction applied to a land contract which treats the vendee's (buyer's) interest as a real property interest even though the seller holds legal title, and the seller's interest as a security interest (personal property). This enables the buyer to act as the "owner" of the property without having "legal" title. Fair and equitable testFair and equitable testA set of requirements for a plan of reorganization to be approved by the bankruptcy court. Equitable ownerEquitable ownerThe beneficiary of a property held in a trust. Equitable ownerEquitable ownerThe beneficiary designated to receive property held in trust. |
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