Can Another Player Buy a Mortgaged Property in Monopoly? The Definitive Guide

Yes, absolutely! A mortgaged property can be bought by another player, but with a very specific set of circumstances. It doesn’t happen during the initial purchase phase when a player lands on an unowned property. The only way another player can acquire a mortgaged property is directly from the owner. This typically happens through a negotiated deal. Understanding the intricacies of these deals and the rules surrounding mortgaged properties can drastically change your Monopoly strategy, so let’s delve deeper.

Understanding Mortgages in Monopoly

Before we get into the specifics of buying mortgaged properties, it’s crucial to understand what a mortgage actually means in the game. When a player needs cash, they can choose to mortgage a property. Mortgaging essentially pauses the property’s ability to generate income for the owner.

How Mortgaging Works

• Receiving Funds: Mortgaging a property allows a player to immediately receive cash from the bank. The amount received is half the property’s printed purchase price.
• No Rent Collection: A mortgaged property cannot collect rent. Landing on a mortgaged property inflicts no penalty on the landing player.
• Reversing the Mortgage: To unmortgage a property and reactivate its rent-collecting ability, the owner must pay the bank the mortgage value plus 10% interest.

The Acquisition of Mortgaged Properties

Now, let’s focus on how a player can actually buy a mortgaged property from another player. It always boils down to a transaction.

The Negotiated Deal

A player in Monopoly can propose a deal to any other player at any time. This is a crucial, often overlooked aspect of the game that sophisticated players exploit. You can offer cash, properties (mortgaged or unmortgaged), or even promises (though these aren’t legally binding!) in exchange for the mortgaged property.

• The Seller’s Perspective: The owner of the mortgaged property might be willing to sell to raise capital, avoid bankruptcy, or strategically help another player in exchange for a favorable deal later on.
• The Buyer’s Perspective: A player might want to acquire a mortgaged property to complete a color set, securing a monopoly and dramatically increasing rent potential once the property is unmortgaged and houses/hotels are built.

What the Buyer Must Do

If a player agrees to buy a mortgaged property, they have two options regarding the mortgage itself:

1. Immediately Unmortgage: The buyer can immediately unmortgage the property by paying the bank the mortgage value plus 10% interest. This puts the property back into play, allowing the buyer to collect rent.
2. Keep it Mortgaged: The buyer can choose to keep the property mortgaged. This can be a strategic move if they don’t have the immediate funds to unmortgage or if they anticipate needing cash later. However, they cannot collect rent until they unmortgage. If the buyer later decides to unmortgage it, they will still need to pay the bank the mortgage value plus 10% interest.

Strategic Implications

The ability to buy mortgaged properties introduces a significant layer of strategy to Monopoly.

• Completing Monopolies: Acquiring a mortgaged property can be the key to completing a lucrative monopoly, dramatically increasing the potential rent collected from opponents.
• Blocking Opponents: Buying a mortgaged property can prevent another player from completing a monopoly.
• Bargaining Chip: Mortgaged properties can be used as bargaining chips in trades, allowing players to negotiate favorable deals.
• Raising Capital: Players nearing bankruptcy might strategically sell mortgaged properties for quick cash, avoiding complete elimination from the game.

Frequently Asked Questions (FAQs)

Here are some frequently asked questions about mortgaged properties and buying them in Monopoly. These FAQs will clarify some common misconceptions and ensure you’re playing the game by the official rules.

FAQ 1: Can I buy a mortgaged property directly from the bank?

No. The bank doesn’t sell mortgaged properties. The only way to acquire a mortgaged property is through a deal with the player who owns it.

FAQ 2: If I buy a mortgaged property, can I start building houses immediately?

No. You must first unmortgage the property by paying the bank the mortgage value plus 10% interest. Only then can you begin building houses and hotels, assuming you own the entire color set.

FAQ 3: Can I trade a mortgaged property for another mortgaged property?

Yes! Trading is unrestricted as long as both players agree to the terms. You can exchange mortgaged properties, cash, Get Out of Jail Free cards – anything negotiable.

FAQ 4: What happens if a player goes bankrupt and owns mortgaged properties?

When a player goes bankrupt, all their assets, including mortgaged properties, are transferred to the player or bank to whom they owe money. If they owe money to another player, the receiving player can choose to buy those properties from the bank by paying the mortgage amount. If the player goes bankrupt to the bank, all properties go back to the bank to be auctioned.

FAQ 5: Is there a limit to how many mortgaged properties a player can own?

No, there is no limit. A player can own as many mortgaged properties as they can acquire through trades or auctions.

FAQ 6: Can I charge rent if someone lands on my mortgaged property before I unmortgage it?

Absolutely not. A mortgaged property generates no rent. That’s the trade-off for receiving the initial cash from the bank.

FAQ 7: Can I mortgage a property with houses or hotels on it?

No. You must sell all houses and hotels on a property back to the bank before you can mortgage it. The houses and hotels are sold back to the bank at half their original purchase price.

FAQ 8: If I buy a mortgaged property, do I have to unmortgage it immediately?

No. You have the option to keep the property mortgaged if you choose. However, remember that you cannot collect rent until you pay off the mortgage with interest.

FAQ 9: Can I buy a mortgaged property even if I don’t have enough cash to unmortgage it?

Yes, you can buy a mortgaged property even if you cannot afford to unmortgage it immediately. You simply become the owner of a mortgaged property. You’ll have to unmortgage it later when you have sufficient funds to be able to collect rent.

FAQ 10: If I unmortgage a property and then need cash later, can I re-mortgage it?

Yes, you can re-mortgage a property, but you won’t receive as much cash as you might expect. When you mortgage a property, you get half of its original purchase price. If you unmortgage it and then later need to re-mortgage it, you’ll only receive half of the original purchase price again.

FAQ 11: Are there any official Monopoly variations that change the rules about mortgaged properties?

Yes, some variations might tweak the rules. Always check the specific rules of the Monopoly version you’re playing. House rules are common, but remember they are not the official rules published by Hasbro.

FAQ 12: What’s the best strategy for dealing with mortgaged properties in Monopoly?

The best strategy depends on your overall game position. If you are close to completing a monopoly, acquiring a mortgaged property in that set is often a wise move. If you have ample cash, unmortgaging properties as quickly as possible maximizes your rent collection potential. Conversely, if you are short on cash, selling a mortgaged property might be better than declaring bankruptcy. Evaluate each situation and make the most strategic decision possible.