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Definition of Mortgage
1. Verb. Put up as security or collateral.
2. Noun. A conditional conveyance of property as security for the repayment of a loan.
Specialized synonyms: First Mortgage, Second Mortgage, Chattel Mortgage
Definition of Mortgage
1. 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.
2. 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.
Definition of Mortgage
1. Noun. A special form of secured loan where the purpose of the loan must be specified to the lender, to purchase assets that must be fixed (not movable) property such as a house or piece of farm land. The assets are registered as the legal property of the borrower but the lender can seize them and dispose of them if they are not satisfied with the manner in which the repayment of the loan is conducted by the borrower. Once the loan is fully repaid, the lender loses this right of seizure and the assets are then deemed to be unencumbered. ¹
2. Verb. As in "to mortgage a property", to borrow against a property, to obtain a loan for another purpose by giving away the right of seizure to the lender over a fixed property such as a house or piece of land. ¹
¹ Source: wiktionary.com
Definition of Mortgage
1. to pledge to a creditor as security [v -GAGED, -GAGING, -GAGES]
Lexicographical Neighbors of Mortgage
Other Resources:
Interlingua