Main Entry: ¹mort·gage

Pronunciation: \ˈmȯr-gij\

Function: noun

Etymology: Middle English morgage, from Anglo-French mortgage, from mort dead (from Latin mortuus) + gage gage — more at murder

Date: 15th century

1 : a conveyance of or lien against property (as for securing a loan) that becomes void upon payment or performance according to stipulated terms
2 a : the instrument evidencing the mortgage b : the state of the property so mortgaged c : the interest of the mortgagee in such property