purchase money

noun

Legal Definition of purchase money

 (Entry 1 of 2)

: the consideration paid or to be paid by the purchaser of property

purchase money

adjective

Legal Definition of purchase money (Entry 2 of 2)

: involving or being a debt secured by the property purchased with the money borrowed — see also purchase money mortgage at mortgage

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Cite this Entry

“Purchase money.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/purchase%20money. Accessed 20 Jan. 2021.

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