| not necessarily, the repayment of a debt to the original landowner. Hence the word "mortgage," Law 1st national mortgage for "dead pledge;" that is, it was absolute in form, and unlike a "live gage", was not conditionally dependent on its repayment solely from raising and selling crops or livestock, or of simply giving the fruits of crops and livestock coming from the land that was mortgaged. The mortgage debt remained in effect whether or not the land could successfully produce enough income to repay the debt. In theory, a mortgage required no further steps to 1st national mortgage taken by the creditor, such |  |
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