Rent is the payment made by the tenant for the temporary use of the property of the owner. Rent is used when the situation is involved for a longer period.
Mortgage is a legal agreement that provides the right of ownership on a property by its owner to a lender as security kept for a loan. In mortgage, the term debtor and creditor are used.
|A tenant’s regular payment to a landlord for the use of property or a land.||A legal agreement by which a bank, building, society etc. lends money at the interest in exchange for taking title of the debtor’s property, with a condition that the conveyance of the title becomes void upon the payment of the debt.|
|Synonyms||Payment, tariff, hire, rental, lease||Contract, debt, title, pledge, deed|
|Antonyms||Purchase and closed||Redeem|
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|Word origin||The word rent was originated from Middle English: from Old French rente, from a root shared by render.||The word mortgage was originated from Late Middle English: from Old French, literally ‘dead pledge’, from mort (from Latin mortuus ‘dead’) + gage ‘pledge’.|
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