A form of security interest where property is pledged as collateral for a debt without transferring possession to the creditor. The debtor retains use of the property while the creditor holds a lien.
From Greek 'hypotheke' meaning 'deposit, pledge,' from 'hypo-' (under) and 'tithenai' (to place). Roman law adopted this as 'hypotheca,' distinguishing it from 'pignus' (pledge with possession transfer). The term entered English legal usage through civil law influence.
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