Purchase money mortgage

{
  "id": "MLC-T-LAW-004041",
  "term": "Purchase money mortgage",
  "field": "Law",
  "definition": "A mortgage granted by a buyer to a seller, or by a third-party lender, to secure the unpaid balance of the purchase price of real estate. This type of mortgage typically has priority over other liens against the property that arise from judgments or other debts of the buyer. It is a common financing mechanism for real estate transactions.",
  "url": "https://mlchart.com/terminology/law/purchase-money-mortgage/"
}