hypothecation means the use of property, or an existing mortgage, as security for a loan, etc. Lexicurio rates it Sui generis — a strength score of 88 out of 100.
noun
- The use of property, or an existing mortgage, as security for a loan, etc.“After the deperdition of Indagator, having an appetency still further to pervstigate the frithy occident; being still an agamist, and not wishing to be any longer a pedaneous viator, nor to be solivagant, I brought about the emption of a yaud, partly by numismatic mutuation, and partly by a hypothecation of my fusee and argental horologe.”
- A tax levied for a specific expenditure.“It is, however, precisely here that the weakness of hypothecation lies, for governments are not likely readily to surrender control over the disposition of taxes they impose.”