101. Meaning of 'mortgage'.

1.     Classification of Mortgages

(1)     Definitions and Key Concepts Relating to Mortgages

101.     Meaning of 'mortgage'.

A mortgage is a disposition of property as security for a debt. It may be effected by a demise or sub-demise of land1, by a transfer of a chattel2, by an assignment of a chose or thing in action3, by a charge4 on any interest in real or personal property5 or by an agreement to create a charge6, for securing money or money's worth, the security being redeemable on repayment or