Tacit Mortgage Law and Legal Definition
Tacit mortgage is a civil law term that refers to a particular kind of a mortgage. It means a lien or mortgage that is created by the operation of law and without the parties’ express agreement. Before being abolished in Louisiana, it was used to give rights to another, such as a creditor, over the property of his debtor, as security for payment of a debt, also giving the power of having the property seized and sold in default of payment. It is also known as tacit hypothecation.
