HYPOTHECA

hypotheca (hI-p<<schwa>>-thee-k<<schwa>> or hip-<<schwa>>-), n.[Latin fr. Greek] Roman law. A mortgage of property in which the debtor was allowed to keep, but not alienate, the property.

“Yet another mode of creating a security is possible, by which not merely the ownership of a thing but its possession also remains with the debtor. This is called by the Roman lawyers and their modern followers ‘hypotheca.’ Hypothecs may arise by the direct application of a rule of law, by judicial decision, or by agreement.” Thomas E. Holland, The Elements of Jurisprudence 235 (13th ed. 1924).

[Blacks Law 8th]