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Yes, the word "mortgage" came into English about 100 years before the battle of Bosworth Field (1483) and the beginning of the Tudor dynasty. The notion of pledging as a security for a loan has probably been around since the invention of money. A mortgage was specifically a conveyance of land intended as security for a loan. However, many of the legal details of the concept of equitable ownership of mortgaged property did not arise at that time and were worked out later. The concept of equity as a counterpoise to law arose late in Elizabeth's reign.

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14y ago

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