purchase money mortgage

purchase money mortgage definition - business

purchase money mortgage

A mortgage or trust deed given by the purchaser to the seller as partial payment on the purchase price. A purchase money mortgage is an example of seller financing.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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