hypothec
/ˈhaɪpəˌθɛk/
noun
- A legal right that a lender has over a borrower's property as security for a debt, without the lender taking possession of the property.
- In some countries, a hypothec is used instead of a mortgage for securing a loan.
- The farmer used his land as a hypothec to get money for new equipment.
- The bank held a hypothec on the house until the loan was fully paid.