Welsh mortgage

noun

Definition of Welsh mortgage

: an obsolete mortgage in which the mortgagee may keep the rents and profits of the estate in satisfaction of interest but cannot enforce payment of the principal and the mortgagor can redeem at any time by payment of the principal — compare living pledge

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First Known Use of Welsh mortgage

1726, in the meaning defined above

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The first known use of Welsh mortgage was in 1726

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Cite this Entry

“Welsh mortgage.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/Welsh%20mortgage. Accessed 25 Oct. 2020.

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