A mortgage is an instrument giving an interest in real estate from one person, the
"mortgagor," to another person, the "mortgagee," to secure a debt or liability. Depending
upon the laws of the particular state, a mortgage may create a lien or it may actually
transfer title to the mortgagee who holds it in trust pending payment of the debt or
obligation.
Mortgages may contain various clauses specifying the rights and obligations of
the parties. The parties may agree upon the terms as they wish so long as those terms
do not violate state law. The mortgage must be in writing and must be signed. At the
very minimum, the mortgage must contain the names and addresses of the parties and
of the person who prepared it, a description of the real estate subject to the mortgage,
the amount of the debt secured by the mortgage, and the due date. Additional
provisions often seen in mortgages include: representations and warranties, provisions
for payment of taxes, maintaining insurance on the real estate, specification when
default occurs, acceleration clauses, foreclosure, redemption, attorney�s fees, and
dueon-sale clauses. Please see specific state for details and/or
differences.
Black�s Law Dictionary Fifth Edition.
ALABAMA
| ALASKA | ARIZONA | ARKANSAS
| CALIFORNIA | COLORADO
| CONNECTICUT | DELAWARE
| FLORIDA
GEORGIA | HAWAII | IDAHO
| ILLINOIS | INDIANA | IOWA
| KANSAS | KENTUCKY | LOUISIANA
| MAINE | MARYLAND
MASSACHUSETTS | MICHIGAN
| MINNESOTA | MISSISSIPPI
| MISSOURI | MONTANA | NEBRASKA
| NEVADA
NEW HAMPSHIRE | NEW
JERSEY | NEW MEXICO | NEW
YORK | NORTH CAROLINA | NORTH
DAKOTA | OHIO
OKLAHOMA | OREGON | PENNSYLVANIA
| RHODE ISLAND | SOUTH
CAROLINA | SOUTH DAKOTA | TENNESSEE
TEXAS | UTAH | VERMONT
| VIRGINIA | WASHINGTON
| WEST VIRGINIA | WISCONSIN
| WYOMING
ALABAMA
In Alabama, a mortgage or deed of trust creates a deed, and title passes to
the mortgagor upon payment of the debt secured by the mortgage. There is no written
agreement for future advances, obligations or other consideration to be secured by the
mortgage. Alabama Code 35-10-26.
ALASKA
In Alaska, a mortgage or deed of trust creates a lien. Alaska Code .09.45.10 through .220;
ARIZONA
In Arizona, a mortgage or deed of trust creates a lien and not a transfer of
real estate. Arizona Code 33-701.
ARKANSAS
In Arkansas, a mortgage or deed of trust may create a lien or transfer of title.
Arkansas Code 18-40-101 onward.
CALIFORNIA
In California, a mortgage and deed of trust are both used. California CC 2911, 2920 through 2955.5.
COLORADO
In Colorado, a mortgage or deed of trust creates a lien or transfer of title
depending upon the language of the instrument. Colorado Code 38-38-101 onward; 38-39-101 onward.
CONNECTICUT
In Connecticut, a mortgage or deed of trust creates a transfer of title.
Connecticut Code 47-5 onward.
DELAWARE
In Delaware, a mortgage or deed of trust creates a lien. Delaware Code 25-2101 onward.
FLORIDA
In Florida, a mortgage or deed of trust creates a lien on the real estate.
Florida Code 697.01 onward.
GEORGIA
In Georgia, a mortgage or deed of trust creates a lien, if a mortgage, and
transfers title, if a security deed. Georgia Code 44-14-1 onward.
HAWAII
In Hawaii, a mortgage or deed of trust creates a lien. Hawaii Code 506-1 onward.
IDAHO
In Idaho, a mortgage or deed of trust creates a lien and is not a transfer of
title. Idaho Code 45-901 through 915.
ILLINOIS
In Illinois, a mortgage or deed of trust creates a lien and does not transfer
title. Illinois Code 765-5/28 onward.
INDIANA
In Indiana, a mortgage or deed of trust creates a lien and does not transfer
title. Indiana Code 32-1-2-4; 32-8-11-1.
IOWA
In Iowa, a mortgage or deed of trust creates a lien and is not a transfer of
title. Iowa Chapter 558.
KANSAS
In Kansas, a mortgage or deed of trust creates a lien and does not transfer
title. Kansas Chapter 58.
KENTUCKY
In Kentucky, a mortgage or deed of trust creates a lien and does not transfer
title. Kentucky Code 382.270 through .430.
LOUISIANA
In Louisiana, a mortgage or deed of trust creates a lien and is not a transfer
of title. Louisiana CC 3278.
MAINE
In Maine, a mortgage or deed of trust creates a transfer of title.
Maine T.33, 501, 761-775.
MARYLAND
In Maryland, a mortgage or deed of trust creates a transfer of title. The
mortgagee retains an equitable interest in the real estate. Maryland Real Prop. Art. 3-201; 4-101.
MASSACHUSETTS
In Massachusetts, a mortgage or deed of trust creates a transfer of title.
Massachusetts C. 183, 4, 18-21.
MICHIGAN
In Michigan, a mortgage or deed of trust creates a lien only, except where
otherwise created by statute. Michigan CLA Chapter 565.
MINNESOTA
In Minnesota, a mortgage or deed of trust creates a lien only and does not
transfer title. Minnesota Code 507.01, .34.
MISSISSIPPI
In Mississippi, a mortgage or deed of trust creates a lien and not a transfer of
title. Mississippi Code 89-1-43 onward; 89-5-1 onward.
MISSOURI
In Missouri, a mortgage or deed of trust creates a lien only and does not
transfer title. Missouri Code 59.330; 442.380-.390.
MONTANA
In Montana, a mortgage or deed of trust creates a lien and is not a transfer of
title. Montana Code 71-1-201 onward; 70-21-101 onward.
NEBRASKA
In Nebraska, a mortgage or deed of trust creates a lien only and does not
transfer title, unless the mortgage contains language expressly stating that it is a transfer
of title. Nebraska Code 76-211 onward.
NEVADA
In Nevada, a mortgage or deed of trust creates a lien only and does not transfer title.
Nevada Code 106.025 onward; 111.320-.325; 107.020 onward.
NEW HAMPSHIRE
In New Hampshire, a mortgage or deed of trust creates a lien and does not
transfer title. New Hampshire C. 479, 1-27.
NEW JERSEY
In New Jersey, a mortgage or deed of trust creates a lien only and is not a
transfer of title. New Jersey Code 46-15-1.1; 37-2-16, 17; 46-10A-1 onward.
NEW MEXICO
In New Mexico, a mortgage or deed of trust creates a lien only and does not
transfer title. New Mexico Code 48-7-1 onward; 14-9-3.
NEW YORK
In New York, a mortgage or deed of trust usually creates a lien and not a
transfer of title. New York G.O.L. 5-334, 5-703; R.P.L. 291; Real Prop. A.&P.L. 1921.
NORTH CAROLINA
In North Carolina, a mortgage or deed of trust creates a transfer of title to the
mortgagee. The mortgagor retains equitable title in the real estate.
North Carolina Code 45-1 onward; 47-17, 20, 20.1.
NORTH DAKOTA
In North Dakota, a mortgage or deed of trust creates a lien only and does not
transfer title. North Dakota Code 35-03-01 onward; 47-19-41.
OHIO
In Ohio, a mortgage or deed of trust creates a lien and ordinarily does not
constitute a transfer of title. Ohio Code 5301.01 onward.
OKLAHOMA
In Oklahoma, a mortgage or deed of trust creates a lien upon the real estate.
Oklahoma Code 46-1 onward.
OREGON
In Oregon, a mortgage or deed of trust creates a lien only and does not transfer title.
Oregon Code 93.010 onward.
PENNSYLVANIA
In Pennsylvania, a mortgage or deed of trust creates a security interest in the
real estate but does not transfer title. Pennsylvania Code 33-1; 21-351, 629 through 633.
RHODE ISLAND
In Rhode Island, a mortgage or deed of trust creates a transfer of legal title to
the mortgagee. Rhode Island Code �34-11-1; 34-23-1 onward.
SOUTH CAROLINA
In South Carolina, a mortgage or deed of trust creates a lien and does not
transfer title. South Carolina Code �29-3-10 onward; 30-7-10.
SOUTH DAKOTA
In South Dakota, a mortgage creates a lien and does not transfer title.
South Dakota Code �44-8-1 onward.
TENNESSEE
In Tennessee, a deed of trust creates a transfer of title. Tennessee Code �66-24-101 onward; 66-25-101 onward.
TEXAS
In Texas, a mortgage or deed of trust creates a lien and does not transfer
title. Texas Prop. Code 12.009, 13.001.
UTAH
In Utah, a mortgage or deed of trust creates a lien and does not transfer title.
Utah Code 57-3-2; 57-1-21, 36.
VERMONT
In Vermont, a mortgage or deed of trust creates a transfer of title and is
executed like a deed. Vermont Code 27-341, 342.
VIRGINIA
In Virginia, a deed of trust creates a transfer of title. A mortgage creates a
lien but does not transfer title. Virginia Code 26-1; 55-58.
WASHINGTON
In Washington, a mortgage or deed of trust creates a lien and does not transfer title.
Washington Code 64.04.010-.020, .226; 65.08.070.
WEST VIRGINIA
In West Virginia, a mortgage creates a lien and a deed of trust creates a
transfer of title. West Virginia Code 39-1-2; 40-1-9; 38-1-1 onward.
WISCONSIN
In Wisconsin, a mortgage or deed of trust creates a lien and does not transfer title.
Wisconsin Code 708.01 onward; 706.01 onward.
WYOMING
In Wyoming, a mortgage creates alien and does not transfer title. Wyoming Code 34-1-106 onward; 34-3-101 onward.
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