A mortgage is the exchange of an interest in specific immovable property to make sure about the installment of cash progressed or to be progressed by the method of credit, a current or future obligation, or the exhibition of a commitment that may offer ascent to financial risk.
The transferor is known as a mortgagor, the transferee a mortgagee; the central cash and interest of which installment is made sure about for the present is known as the mortgage cash and the instrument (assuming any) by which the exchange is affected is known as a mortgage- deed.