noun
- Plural of hypothecator; persons who pledge property as security for a debt or obligation without transferring possession of the property.
Usage: legal/financial term; chiefly used in maritime and commercial law
Examples
- The hypothecators agreed to pledge their cargo as collateral for the ship's loan.
- In maritime law, hypothecators retain ownership of the vessel while securing financing.
- The contract specified the rights and obligations of both hypothecators and lenders.
- Several hypothecators jointly pledged their assets to obtain the necessary credit.
- The hypothecators maintained possession of the property throughout the loan period.