Dictionary-Definition.com :: Mortgage definition

Definition of 'mortgage'

noun

A conditional conveyance of property as security for the repayment of a loan

verb

Put up as security or collateral

From: GCIDE

Mortgage \Mort"gage\ (m[^o]r"g[asl]j; 48), n. [F. mort-gage; mort dead (L. mortuus) + gage pledge. See Mortal, and Gage.]
1. (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. [1913 Webster]
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. --Cowell. --Kent. [1913 Webster]
2. State of being pledged; as, lands given in mortgage. [1913 Webster]
Chattel mortgage. See under Chattel.
To foreclose a mortgage. See under Foreclose.
Mortgage deed (Law), a deed given by way of mortgage. [1913 Webster]

From: GCIDE

Mortgage \Mort"gage\, v. t. [imp. & p. p. Mortgaged; p. pr. & vb. n. Mortgaging.]
1. (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. [1913 Webster]
2. Hence: To pledge, either literally or figuratively; to make subject to a claim or obligation. [1913 Webster]
Mortgaging their lives to covetise. --Spenser. [1913 Webster]
I myself an mortgaged to thy will. --Shak. [1913 Webster]

From: GCIDE

Record \Re*cord"\ (r?*k?rd"), v. t. [imp. & p. p. Recorded; p. pr. & vb. n. Recording.] [OE. recorden to repeat, remind, F. recorder, fr. L. recordari to remember; pref. re- re- + cor, cordis, the heart or mind. See Cordial, Heart.]
1. To recall to mind; to recollect; to remember; to meditate. [Obs.] "I it you record." --Chaucer. [1913 Webster]
2. To repeat; to recite; to sing or play. [Obs.] [1913 Webster]
They longed to see the day, to hear the lark Record her hymns, and chant her carols blest. --Fairfax. [1913 Webster]
3. To preserve the memory of, by committing to writing, to printing, to inscription, or the like; to make note of; to write or enter in a book or on parchment, for the purpose of preserving authentic evidence of; to register; to enroll; as, to record the proceedings of a court; to record historical events. [1913 Webster]
Those things that are recorded of him . . . are written in the chronicles of the kings. --1 Esd. i. 42. [1913 Webster]
To record a deed, mortgage, lease, etc., to have a copy of the same entered in the records of the office designated by law, for the information of the public. [1913 Webster]