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purchase money mortgage
pur·chase mon·ey mort·gage (plural pur·chase mon·ey mort·ga·ges)


noun 
Definition:
 
commercial law mortgage taken by buyer: a mortgage that a buyer takes out in order to obtain the money needed to buy a property
Encarta® World English Dictionary [North American Edition] © & (P)2009 Microsoft Corporation. All rights reserved. Developed for Microsoft by Bloomsbury Publishing Plc.
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