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Mortgage   /mˈɔrgədʒ/  /mˈɔrgɪdʒ/   Listen
noun
Mortgage  n.  
1.
(Law) A conveyance of property, upon condition, as security for the payment of a debt or the preformance of a duty, and to become void upon payment or performance according to the stipulated terms; also, the written instrument by which the conveyance is made. Note: It was called a mortgage (or dead pledge) because, whatever profit it might yield, it did not thereby redeem itself, but became lost or dead to the mortgager upon breach of the condition. But in equity a right of redemption is an inseparable incident of a mortgage until the mortgager is debarred by his own laches, or by judicial decree.
2.
State of being pledged; as, lands given in mortgage.
Chattel mortgage. See under Chattel.
To foreclose a mortgage. See under Foreclose.
Mortgage deed (Law), a deed given by way of mortgage.



verb
Mortgage  v. t.  (past & past part. mortgaged; pres. part. mortgaging)  
1.
(Law) To grant or convey, as property, for the security of a debt, or other engagement, upon a condition that if the debt or engagement shall be discharged according to the contract, the conveyance shall be void, otherwise to become absolute, subject, however, to the right of redemption.
2.
Hence: To pledge, either literally or figuratively; to make subject to a claim or obligation. "Mortgaging their lives to covetise." "I myself an mortgaged to thy will."






Collaborative International Dictionary of English 0.48








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"Mortgage" Quotes from Famous Books



... century, were not only obliged to acknowledge, by voluntarily contributing large sums of money, the service the King's brother had rendered them in clearing them from the imputation of having had any participation in the murder of the child Richard, but the loan on mortgage, for which they were the material and passive security, became the cause of odious extortions from them. The King had pledged them to the Earl of Cornwall for 5,000 marks, but they themselves had to repay the royal loan by means of enormous ...
— Manners, Custom and Dress During the Middle Ages and During the Renaissance Period • Paul Lacroix

... blarsted spinifex waste of scorching sand and desolation into green grass—and save me and the youngsters from giving it best, and going under altogether.... Boake knew this cursed country well.... I wonder if he ever 'owned' a station—one with a raging drought, a thundering mortgage, and a worrying and greedy bank sooling him on to commit suicide, or else provide rain as side issues.... I don't suppose he had a wife and children to leave to the mercy of the Australian Pastoralists' ...
— In The Far North - 1901 • Louis Becke

... plum belongs to this type, as also does the Terry plum. The Terry plum we want to keep a while longer, not because it is a mortgage lifter for the growers but because of the extraordinarily large size of its fruit, as well as for its ...
— Trees, Fruits and Flowers of Minnesota, 1916 • Various

... counties,—by the man who had established, but failed, despite his effort, to make permanent the fortunes of his family. When the grandnephew, Bruce Grierson, came on, the brick house was plastered with a mortgage that somehow passed eventually into the hands of the then alert young sapling land-agent, Crittenton Madeira. Crittenton took the house, and, by and by, Bruce Grierson, the second, took himself, with money ...
— Sally of Missouri • R. E. Young

... in the population was aroused, one day, when the widow of one of his neighbors came to him for advice. Her husband had owned a farm, adjoining one of Micah's pastures, on which there was a heavy mortgage. Now that the head of the family was gone, the merchant in Jerusalem, who held the mortgage, threatened to eject the widow and the children, because they could neither pay the amount borrowed nor the ...
— Stories of the Prophets - (Before the Exile) • Isaac Landman


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