First Known Use: 15th century
Dictionary
1mortgage
noun mort·gage \ˈmȯr-gij\
: a legal agreement in which a person borrows money to buy property (such as a house) and pays back the money over a period of years
Full 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
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Origin of MORTGAGE
Middle English morgage, from Anglo-French mortgage, from mort dead (from Latin mortuus) + gage gage — more at murder
Other Economics Terms
2mortgage
verb
: to give someone a legal claim on (property that you own) in exchange for money that you will pay back over a period of years
mort·gagedmort·gag·ing
Full Definition of MORTGAGE
transitive verb
1
: to grant or convey by a mortgage
2
: to subject to a claim or obligation : pledge
See mortgage defined for English-language learners
First Known Use of MORTGAGE
15th century
Other Economics Terms
MORTGAGE[1] Defined for Kids
1mortgage
noun mort·gage \ˈmȯr-gij\
Definition of MORTGAGE for Kids
1
: a transfer of rights to a piece of property (as a house) that is usually in return for a loan of money and that is canceled when the loan is paid
2
: the document recording such a transfer
2mortgage
verb
mort·gagedmort·gag·ing
Definition of MORTGAGE for Kids
: to transfer rights to a piece of property in return for a loan of money with the understanding that the rights end when the loan is paid
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