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mortgage - Meaning and Examples

Meaning of 'mortgage' (Webster Dictionary)

1 . Mortgage [ n.]
- 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.
- State of being pledged; as, lands given in mortgage.
2 . Mortgage [ v. t.]
- 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.

Nearby Words:

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