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Maas

Categories: Property

Definition (1910 Edition)

70, 30 N. E. 472.—Second mortgage. One which takes rank immediately after a ‘first mortgage on the same property, without any intervening liens, and is next entitled to satisfaction out of the proceeds of the property.
Source: Black's Law Dictionary, 2nd Edition (1910) — Public Domain. UK commentary and modern updates are original additions. This entry is for educational reference only and does not constitute legal advice.