Knowing all the different rules regarding mortgage in Monopoly is a way of mastering the game and will help get you out of tricky situations.
Mortgaging a property is a way to get some money. It is also a way to settle your debts to the bank or another player.
The money from the mortgage can also be used to build houses or hotels on properties of other colors than the one mortgaged.
To mortgage a property in Monopoly, you must:
- Sell all the buildings on the property that’s to be mortgaged to the bank.
- Sell all the buildings on the properties in the same color group as the one to be mortgaged to the bank.
- Turn the title deed card face down and collect the mortgage value from the bank (according to the indicated amount on the card).
When you mortgage a property, it is still in your possession, however, you no longer have the right to collect the rent of this property. Nonetheless, you can still collect the rent of the other properties in the same color group.
If you want to lift a mortgage, you must pay the mortgage value shown on the back of the title deed card plus 10% interest to the bank. Once that’s done, you can turn the card face up again and you’re able to collect its rent as normal.
A property can remain mortgaged for as long as the owner wants.
It is possible and perfectly legal to sell a mortgaged property to another player. You and that player just have to agree on the price.
After selling the mortgaged property to another player, the choice of whether or not to lift the mortgage now belongs to the new owner. If the new owner wants to lift the mortgage, they, of course, would have to pay the mortgage value plus 10% interest to the bank.