On-line Dictionary
Mortgage
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
.
Mortgage
n.
State
of
being
pledged
; as,
lands
given
in
mortgage
.
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
.
Mortgage
v. t.
Hence
: To
pledge
,
either
literally
or
figuratively
; to
make
subject
to a
claim
or
obligation
.
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