open-end mortgage
A mortgage that allows the borrowing of additional sums, often on the condition that a stated ratio of collateral value to the debt be maintained. A mortgage that provides for future advances on the mortgage and which so increases the amount of the mortgage.

Dictionary from West's Encyclopedia of American Law. 2005.


open-end mortgage
A mortgage that allows the borrowing of additional sums, often on the condition that a stated ratio of collateral value to the debt be maintained. A mortgage that provides for future advances on the mortgage and which so increases the amount of the mortgage.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

Look at other dictionaries:

  • open–end mortgage — see mortgage Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • Open-End Mortgage — A type of mortgage that allows the borrower to increase the amount of the mortgage at a later time. Open end mortgages permit the borrower to go back to the lender and borrow more money if certain conditions have been met. There is usually a set… …   Investment dictionary

  • Open-end mortgage — Mortgage against which additional debts may be issued. Related: closed end mortgage. The New York Times Financial Glossary …   Financial and business terms

  • open-end mortgage — mortgage against which additional debts may be issued. Related: closed end mortgage. Bloomberg Financial Dictionary …   Financial and business terms

  • open-end mortgage — Fin a mortgage in which prepayment is allowed. U.K. term open ended mortgage …   The ultimate business dictionary

  • open-end mortgage — noun : a mortgage under which additional funds may be borrowed without making a new mortgage contrasted with closed mortgage * * * a mortgage agreement against which new sums of money may be borrowed under certain conditions …   Useful english dictionary

  • open-end mortgage — a mortgage agreement against which new sums of money may be borrowed under certain conditions. * * * …   Universalium

  • open–end — adj: organized to allow for contingencies: as a: permitting additional debt to be incurred under the original debt instrument subject to specified conditions see also open end mortgage at mortgage b: having fluctuating capitalization of shares… …   Law dictionary

  • open-end — | ̷ ̷ ̷ ̷| ̷ ̷ adjective : organized, formulated, or constituted to contain possibilities for various contingencies whether unspecified, merely inferable, or definitely stated: as a. : permitting additional debt to be incurred under the original… …   Useful english dictionary

  • open-end — adjective Date: 1917 organized to allow for contingencies: as a. permitting additional debt to be incurred under the original indenture subject to specified conditions < an open end mortgage > b. having a fluctuating capitalization of shares that …   New Collegiate Dictionary

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