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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



... mix. Still, Jim had been able to get his claw on the Squire's meat, so to speak; that is, he'd made money himself, lawin' an' grindin' the face of them worse off 'an he was, an' the Squire needin' ready cash, to make some improvements he'd better ha' let alone, Jim advanced it an' Squire give a mortgage. That was the beginnin', an' now, they say, Pettijohn owns about every acre of the old Sturtevant property, an' could turn the Madam out any day. Yet, somehow, he dassent. Indeed, I'd like to see the man ...
— The Brass Bound Box • Evelyn Raymond

... become very valuable through the importance of the patent under the management of the large company then controlling it. The church sold the stock and realized from the sale more than enough to pay off the entire debt of the church, amounting to $10,860. With the canceled mortgage as one incentive, this church held a special service of thanks one Sunday morning, on which occasion a life-sized portrait of their benefactor looked down from the platform on the immense congregation below, while a young white lady, a member of ...
— The Colored Inventor - A Record of Fifty Years • Henry E. Baker

... right here in the yards. There you got it—good market, and these towns keeping us from it. Gus, that's the way these towns work all the time. They pay what they want to for our wheat, but we pay what they want us to for their clothes. Stowbody and Dawson foreclose every mortgage they can, and put in tenant farmers. The Dauntless lies to us about the Nonpartisan League, the lawyers sting us, the machinery-dealers hate to carry us over bad years, and then their daughters put on swell dresses and look ...
— Main Street • Sinclair Lewis

... to give you the general dope of the piece before you go on," said Baird, in the shelter of high canvas backing. "You're the only son of a widowed mother and both you and she are toiling to pay off the mortgage on the little home. You're the cashier of this business establishment, and in love with the proprietor's daughter, only she's a society girl and kind of looks down on you at first. Then, there's her brother, the proprietor's only son. He's the clerk in this place. ...
— Merton of the Movies • Harry Leon Wilson

... up, it is said, and Rowena encouraged him in his efforts to become his own worst enemy, and after two or three patent-pails-full of wassail would get him to give her another county or two, until soon the Briton saw that the Saxon had a mortgage on the throne, and after it was too late, he said that immigration should ...
— Comic History of England • Bill Nye


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