MORTGAGE • FREE TRANSLATOR.ORG • Definition of Mortgage

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/mˈɔrgədʒ/ /mˈɔrgɪdʒ/ Listen

noun

Mortgage n.

(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.

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)

(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.

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."

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Etymology of 'Mortgage'

Collaborative International Dictionary of English 0.48

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"Mortgage" Quotes from Famous Books

... to New Orleans, where his long-forbearing agents had at last awakened him to a bitter sense of his delinquencies, and when mortgage upon mortgage were laid with all their shocking truth before him, he returned and came to me. With all his vices and faults, he was truthful and generous. He told me all, and how he would try to do better, and soothe the declining years of his too ...

— Captain Brand of the "Centipede" • H. A. (Henry Augustus) Wise

... go any hundred," the agent said, triumphantly. "And besides that, isn't it to your advantage to live in your own house, and have a home that you can be proud of, and pay everything over your interest toward your mortgage? We have people here who only paid two or three thousand down, we don't push you— that isn't our idea. If you can't meet our terms, we'll meet yours. You've got your nest-egg, ...

— Undertow • Kathleen Norris

... the appearance of White Legs in the leading trio, and Bradley looked so much at ease that all who had backed the horse were confident; before the distance was reached the scarlet jacket held the lead, and the Baron's horse appeared to have a mortgage on the race. ...

— The Rider in Khaki - A Novel • Nat Gould

... which seemed to be made for his genius. He immediately suspended his interesting quarrel with his brother, and, instead of contesting with him the crown to which he had such fair pretensions, or the duchy of which he was in possession, he proposed to mortgage to him the latter during five years for a sum of thirteen thousand marks of gold. William, who had neither sense of religion nor thirst of glory, intrenched in his secure and narrow policy, laughed at a design that had deceived all the great minds in Europe. He extorted, as usual, ...

— The Works of the Right Honourable Edmund Burke, Vol. VII. (of 12) • Edmund Burke

... the captain find cash for this? The fact is, he never paid in ready money; for that was unknown to his pockets, and very rare in the district. He paid in sundry equivalents of produce; and a nice little mortgage might be effected on his nice little farm of Daisy Burn if needs be. Zack held his greedy grasping fingers over it; for the family were obliged to go a good deal in debt for sundry necessities. Slave and scrape as Miss Armytage might, she had no way of raising money for such things as tea ...

— Cedar Creek - From the Shanty to the Settlement • Elizabeth Hely Walshe

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