One of the easiest ways to make some quick money in Monopoly is to mortgage one of your properties; if you own any, that is. But what exactly are the rules for mortgaging property in Monopoly, and can you ever get your property back?
Monopoly is a fun game with up to eight players of all ages battling it out to be the ultimate winner. But it can turn disastrous if the players do not know the proper rules. Let’s clear up any misperceptions and go through the rules of mortgaging and unmortgaging property in this fun game that has been translated to 37 languages and is available in over 3000 versions.
If you are faced with the unfortunate event of having to pay a fine to another player and do not have the funds, you can quickly and easily mortgage any of your properties for cash in hand. Mortgaging your property in Monopoly allows you to retain the “title” to your home, and you will receive 50% of the property’s overall value, as stated on the back of the card.
There is often confusion over whether or not you can mortgage a property while in jail in Monopoly. While some players have their own “house rules,” official rules state that any player may change their existing properties by adding a house or hotel and mortgage that property while in jail.
Now that that has been cleared up, let’s learn more about how to mortgage your property when you need money fast or want to get rid of a property that is not yielding you any profits.
Mortgaging a property in Monopoly is quick and easy and allows a player to hand over ownership of the property to the bank temporarily. While they only get back half of the property’s worth, they still retain the card and can buy back their property at any time.
Here is a step-by-step-guide on how to mortgage your property if you are in a bind:
If you need to pay a hefty fine, choose a property that will give you the most cash back when mortgaged to the bank. Remember that you are only entitled to 50% of the property’s value.
You cannot mortgage a property that has houses and hotels on it. These must be sold back to the bank for 50% of their original price. Property must be clear of all hotels and homes to be mortgaged.
Turn the card over to see the property’s value, and claim your money from the bank. This is the property’s value only and does not include houses and hotels, which should be sold as explained in Step 2. The property card should remain face-down until you either sell it to another player or are in the position to pay back the mortgage.
Once you have completed the process above, you can collect your money from the bank and move on with the game.
See how easy the process is? Mortgaging a property can be done at any time throughout the game and does not only need to be done when you need cash. Mortgaging a property that is not yielding any profits is also common, and can be done by following the steps above.
Once you have mortgaged your property, you are, in fact, still the owner but lose some of your rights or options on that property.
If you have mortgaged your property, you can’t:
If, further along in the game, you become more financially stable and want to purchase your property back from the bank, it is called Unmortgaging.
You finally have enough money to get your property back. What happens now? Can you buy your property back from the bank? And are there any extra fees to be paid?
Unmortgaging a property is just as easy as mortgaging it, but there are a few extra charges you need to be aware of. When you unmortgage your property, you will need to pay:
When both of these amounts have been paid to the bank, you can turn the card face-up, develop it, and charge rent to other players for landing on it once again.
Mortgaging and unmortgaging a Monopoly property is simple and gives the players quick access to money when their funds run low.
Now that we have covered how to mortgage and unmortgage a property, there are a few other things you should know about mortgages in Monopoly. This includes the option of selling a mortgaged property to another player if you need cash.
If you are still in dire straits and do not have the means to unmortgage your property, you can sell it to another player. They will need to immediately pay the bank the mortgage value of the property, plus an additional 10%. This now gives them full access to that property, and they can develop the property as they wish and charge rent if another player lands on their property.
The overall winner in a Monopoly game is the one still standing at the end of the game once everyone else has no money, has mortgaged all their properties, and has declared themselves bankrupt. This can, of course, take ages, as Monopoly is not a slow game.
If a player does not have the cash to pay the bank or another player their rent on fines and has already mortgaged all their properties, they need to declare bankruptcy and are out of the game.
All mortgaged properties must be turned over to the bank once a player has declared bankruptcy. The card is then returned to the bank. Other players then have a chance to purchase these properties, develop them, and charge rent to the remaining players who land on this property.
If you are still unsure about the rules of mortgaging property in Monopoly, you can refer to our FAQ guide for quick reference. From mortgage value to rent charges of mortgaged properties, we help you understand the ins and outs of Monopoly and the rules around mortgaging.
Here are the most popular questions that are asked about mortgaging and unmortgaging a property in Monopoly:
A: The mortgage value refers to the amount you will be paid when you mortgage a property. The mortgage amount is printed on the back of each property title card and is half the value of that property.
A: No. A property that is mortgaged is essentially on hold, and cannot be claimed by another player unless they have your permission. If for any reason, you file for bankruptcy, all mortgaged properties are fair play and can be purchased from the bank by other players.
A: No. All houses and hotels must be sold to the bank before any property can be mortgaged. The value of each house and hotel is half the price you purchased them for.
A: No. Rent can not be collected for mortgaged properties, even if you own all the properties in a specific color. This only relates to mortgaged properties in a color, and not the unmortgaged properties that you may own in a specific color.
Should another player land on an unmortgaged property in a specific color, you can charge double rent on that property, regardless of the fact that one of the properties is mortgaged.
A: The player who mortgaged the property retains ownership of the property until it is sold back to the bank or if another player wishes to buy it at the mortgage value. Once you mortgage a property, the property card needs to be turned face down until you have unmortgaged it.
A player may choose to sell their mortgaged property to another player at any time at an agreed price.
A: Yes. You can mortgage and unmortgage a property as many times as you would like. Mortgaging a property is a great idea if you need cash fast. As soon as you have recovered financially, you can unmortgage that property, but there will be penalties to pay.
The cost to unmortgage a property includes the mortgage amount (half the value of the property according to the amount on the back of the property card) plus 10%. This amount is paid to the bank.
A: No. Although a player still retains ownership of a mortgaged property, no houses or hotels may be purchased on that property. A mortgaged property is on hold until the owner unmortgages the property or sells it to another player.
It is important to follow the rules of mortgaging a property closely to ensure that the game is fair for all players. You can read up on the rules at any time by referring to the instructions and rule sheet included in the game, or find them online.
Monopoly is a popular and well-loved game for millions of people across the globe. While the rules are there to ensure that all players have a fair chance of winning, the game is mostly played on chance. But the strategy can also come into play and increase your chances of being the last man standing.
The rules around mortgaging and unmortgaging a property have caused many arguments, and hopefully, the information provided in this article has cleared up any misconceptions you may have had. Follow our tips and tricks to improve your game and increase the chances of winning by having the upper hand over your opponents.
