mortgage
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About Our Definitions: All forms of a word (noun, verb, etc.) are now displayed on one page.1mort·gage
noun \ˈmȯr-gij\Definition of MORTGAGE
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
See Examples of MORTGAGE
- He will have to take out a mortgage in order to buy the house.
- They hope to pay off the mortgage on their home soon.
Origin of MORTGAGE
Middle English morgage, from Anglo-French mortgage, from mort dead (from Latin mortuus) + gage gage — more at murder
First Known Use: 15th century
Other Economics Terms
2mortgage
transitive verbmort·gagedmort·gag·ing
Definition of MORTGAGE
1
: to grant or convey by a mortgage
2
: to subject to a claim or obligation : pledge
Examples of MORTGAGE
- She mortgaged her house in order to buy the restaurant.
- <I've mortgaged all my free time this week to the hospice and won't be able to come to the party.>
First Known Use of MORTGAGE
15th century
Other Economics Terms
mortgage
noun (Concise Encyclopedia)In Anglo-American law, the method by which a debtor (mortgagor) conveys an interest in property to a creditor (mortgagee) as security for the payment of a money debt. The modern mortgage has its roots in medieval Europe. Originally, the mortgagor gave the mortgagee ownership of the land on the condition that the mortgagee would return it once the mortgagor's debt was paid off. Over time, it became the practice to let the mortgagor remain in possession of the land; it then became the mortgagor's right to remain in possession of the land so long as there was no default on the debt.
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