The form of mortgage varies somewhat in the several States. In New York the form is prescribed by statute. It is substantially similar to that of many other States and is as follows:

THIS MORTGAGE, made the day of nineteen hundred and BETWEEN the Mortgagor and the Mortgagee,

WITNESSETH, that to secure the payment of an indebtedness in the sum of

Dollars, lawful money of the United States, to be paid on the day of nineteen hundred and , with interest thereon to be computed from at the rate of per centum per annum, and to be paid according to a certain bond or obligation bearing even date herewith, the Mortgagor hereby mortgages to the Mortgagee

AND the Mortgagor covenants with the Mortgagee as follows:

1. That the Mortgagor will pay the indebtedness as hereinbefore provided.

2. That the Mortgagor will keep the buildings on the premises insured against loss by fire for the benefit of the Mortgagee.

3. That no building on the premises shall be removed or demolished without the consent of the Mortgagee.

4. That the whole of said principal sum shall become due after default in the payment of any installment of principal or of interest for days, or after default in the payment of any tax, water rate or assessment for days after notice and demand.

5. That the holder of this Mortgage, in any action to foreclose it, shall be entitled to the appointment of a receiver.

6. That the Mortgagor will pay all taxes, assessments or water rates, and in default thereof, the Mortgagee may pay the same.

7. That the Mortgagor within days upon request in person or within days upon request by mail will furnish a statement of the amount due on this Mortgage.

8. That notice and demand or request may be in writing and may be served in person or by mail.

9. That the Mortgagor warrants the title to the premises.

IN WITNESS WHEREOF, this Mortgage has been duly executed by the Mortgagor. In presence of:


The opening words "This mortgage" merely identify the instrument as such. In many States the form commences "This indenture." Next appears the date; not a requisite, but convenient and customary. The parties are then named, the borrower first, followed by the lender, just as in the bond. After each name, must, however, be added the party's residence. In this form they are designated mortgagor and mortgagee, respectively. Often they are stated to be "party of the first part" and "party of the second part." While a mortgage is personal property, it nevertheless passes an interest in land. Consequently if the borrower be married, unless the mortgage was given to secure purchase money, his wife must join in the mortgage in order to surrender her dower right. Her name should be added as mortgagor following that of her husband, and it should be indicated that she is his wife by appropriate words; as "John Jones and Mary Jones, his wife." "Wit-nesseth" is no more important here than in a deed.