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About: Mortgage burning     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:Tradition105809745, within Data Space : dbpedia.org associated with source document(s)

Type: companyyago:WikicatCeremoniesyago:WikicatTraditionsInvolvingFireyago:Abstraction100002137yago:Affair107447261yago:Ceremony107450842yago:Cognition100023271yago:Content105809192yago:Event100029378yago:PsychologicalFeature100023100yago:YagoPermanentlyLocatedEntityyago:SocialEvent107288639yago:Tradition105809745 New Facet based on Instances of this Class

Mortgage burning was a twentieth-century custom in the United States of America (U.S.A.) that was the ritual incineration of the promissory note (mortgage) upon satisfaction of the payment schedule by the purchaser (debtor, or mortgagor). This ritual was performed to celebrate the release of the debtor from further payment obligations, and was sometimes accompanied by a party in which extended family and friends were invited.