A temporary, conditional pledge of property to a creditor as security for performance of an obligation or repayment of a debt.
A contract or deed specifying the terms of a mortgage.
The claim of a mortgagee upon mortgaged property.
tr.v.
mort·gaged, mort·gag·ing, mort·gag·es
To pledge or convey (property) by means of a mortgage.
To make subject to a claim or risk; pledge against a doubtful outcome: mortgaged their political careers by taking an unpopular stand.
[Middle English morgage, from Old French : mort, dead (from Vulgar Latin *mortus, from Latin mortuus, past participle of morī, to die; see mer- in Indo-European roots) + gage, pledge (of Germanic origin).]
Word History: The great jurist Sir Edward Coke, who lived from 1552 to 1634, has explained why the term mortgage comes from the Old French words mort, "dead," and gage, "pledge." It seemed to him that it had to do with the doubtfulness of whether or not the mortgagor will pay the debt. If the mortgagor does not, then the land pledged to the mortgagee as security for the debt "is taken from him for ever, and so dead to him upon condition, &c. And if he doth pay the money, then the pledge is dead as to the [mortgagee]." This etymology, as understood by 17th-century attorneys, of the Old French term morgage, which we adopted, may well be correct. The term has been in English much longer than the 17th century, being first recorded in Middle English with the form morgage and the figurative sense "pledge" in a work written before 1393.
1390, from O.Fr. morgage (13c.), mort gaige, lit. "dead pledge" (replaced in modern Fr. by hypothèque), from mort "dead" + gage "pledge;" so called because the deal dies either when the debt is paid or when payment fails. O.Fr. mort is from V.L. *mortus "dead," from L. mortuus, pp. of mori "to die" (see mortal). The verb is first attested 1467.
A legal agreement that creates an interest in real estate between a borrower and a lender. Commonly used to purchase homes, mortgages specify the terms by which the purchaser borrows from the lender (usually a bank or a savings and loan association), using his or her title to the house as security for the unpaid balance of the loan.
Dead\ (d[e^]d), a. [OE. ded, dead, deed, AS. de['a]d; akin to OS. d[=o]d, D. dood, G. todt, tot, Icel. dau[eth]r, Sw. & Dan. d["o]d, Goth. daubs; prop. p. p. of an old verb meaning to die. See Die, and cf. Death.]1. Deprived of life; -- opposed to alive and living; reduced to that state of a being in which the organs of motion and life have irrevocably ceased to perform their functions; as, a dead tree; a dead man. "The queen, my lord, is dead." --Shak. The crew, all except himself, were dead of hunger. --Arbuthnot. Seek him with candle, bring him dead or living. --Shak. 2. Destitute of life; inanimate; as, dead matter. 3. Resembling death in appearance or quality; without show of life; deathlike; as, a dead sleep. 4. Still as death; motionless; inactive; useless; as, dead calm; a dead load or weight. 5. So constructed as not to transmit sound; soundless; as, a dead floor. 6. Unproductive; bringing no gain; unprofitable; as, dead capital; dead stock in trade. 7. Lacking spirit; dull; lusterless; cheerless; as, dead eye; dead fire; dead color, etc. 8. Monotonous or unvaried; as, a dead level or pain; a dead wall. "The ground is a dead flat." --C. Reade. 9. Sure as death; unerring; fixed; complete; as, a dead shot; a dead certainty. I had them a dead bargain. --Goldsmith. 10. Bringing death; deadly. --Shak. 11. Wanting in religious spirit and vitality; as, dead faith; dead works. "Dead in trespasses." --Eph. ii. 1. 12. (Paint.) (a) Flat; without gloss; -- said of painting which has been applied purposely to have this effect. (b) Not brilliant; not rich; thus, brown is a dead color, as compared with crimson. 13. (Law) Cut off from the rights of a citizen; deprived of the power of enjoying the rights of property; as, one banished or becoming a monk is civilly dead. 14. (Mach.) Not imparting motion or power; as, the dead spindle of a lathe, etc. See Spindle. Dead ahead (Naut.), directly ahead; -- said of a ship or any object, esp. of the wind when blowing from that point toward which a vessel would go. Dead angle (Mil.), an angle or space which can not be seen or defended from behind the parapet. Dead block, either of two wooden or iron blocks intended to serve instead of buffers at the end of a freight car. Dead calm (Naut.), no wind at all. Dead center, or Dead point (Mach.), either of two points in the orbit of a crank, at which the crank and connecting rod lie a straight line. It corresponds to the end of a stroke; as, A and B are dead centers of the crank mechanism in which the crank C drives, or is driven by, the lever L. Dead color (Paint.), a color which has no gloss upon it. Dead coloring (Oil paint.), the layer of colors, the preparation for what is to follow. In modern painting this is usually in monochrome. Dead door (Shipbuilding), a storm shutter fitted to the outside of the quarter-gallery door. Dead flat (Naut.), the widest or midship frame. Dead freight (Mar. Law), a sum of money paid by a person who charters a whole vessel but fails to make out a full cargo. The payment is made for the unoccupied capacity. --Abbott. Dead ground (Mining), the portion of a vein in which there is no ore. Dead hand, a hand that can not alienate, as of a person civilly dead. "Serfs held in dead hand." --Morley. See Mortmain. Dead head (Naut.), a rough block of wood used as an anchor buoy. Dead heat, a heat or course between two or more race horses, boats, etc., in which they come out exactly equal, so that neither wins. Dead horse, an expression applied to a debt for wages paid in advance. [Law] Dead language, a language which is no longer spoken or in common use by a people, and is known only in writings, as the Hebrew, Greek, and Latin. Dead letter. (a) A letter which, after lying for a certain fixed time uncalled for at the post office to which it was directed, is then sent to the general post office to be opened. (b) That which has lost its force or authority; as, the law has become a dead letter. Dead-letter office, a department of the general post office where dead letters are examined and disposed of. Dead level, a term applied to a flat country. Dead lift, a direct lift, without assistance from mechanical advantage, as from levers, pulleys, etc.; hence, an extreme emergency. "(As we say) at a dead lift." --Robynson (More's Utopia). Dead line (Mil.), a line drawn within or around a military prison, to cross which involves for a prisoner the penalty of being instantly shot. Dead load (Civil Engin.), a constant, motionless load, as the weight of a structure, in distinction from a moving load, as a train of cars, or a variable pressure, as of wind. Dead march (Mus.), a piece of solemn music intended to be played as an accompaniment to a funeral procession. Dead nettle (Bot.), a harmless plant with leaves like a nettle (Lamium album). Dead oil (Chem.), the heavy oil obtained in the distillation of coal tar, and containing phenol, naphthalus, etc. Dead plate (Mach.), a solid covering over a part of a fire grate, to prevent the entrance of air through that part. Dead pledge, a mortgage. See Mortgage. Dead point. (Mach.) See Dead center. Dead reckoning (Naut.), the method of determining the place of a ship from a record kept of the courses sailed as given by compass, and the distance made on each course as found by log, with allowance for leeway, etc., without the aid of celestial observations. Dead rise, the transverse upward curvature of a vessel's floor. Dead rising, an elliptical line drawn on the sheer plan to determine the sweep of the floorheads throughout the ship's length. Dead-Sea apple. See under Apple. Dead set. See under Set. Dead shot. (a) An unerring marksman. (b) A shot certain to be made. Dead smooth, the finest cut made; -- said of files. Dead wall (Arch.), a blank wall unbroken by windows or other openings. Dead water (Naut.), the eddy water closing in under a ship's stern when sailing. Dead weight. (a) A heavy or oppressive burden. --Dryden. (b) (Shipping) A ship's lading, when it consists of heavy goods; or, the heaviest part of a ship's cargo. (c) (Railroad) The weight of rolling stock, the live weight being the load. --Knight. Dead wind (Naut.), a wind directly ahead, or opposed to the ship's course. To be dead, to die. [Obs.] I deme thee, thou must algate be dead. --Chaucer. Syn: Inanimate; deceased; extinct. See Lifeless.
Mor"tal\, a. [F. mortel, L. mortalis, from mors, mortis, death, fr. moriri 8die; akin to E. murder. See Murder, and cf. Filemot, Mere a lake, Mortgage.]1. Subject to death; destined to die; as, man is mortal. 2. Destructive to life; causing or occasioning death; terminating life; exposing to or deserving death; deadly; as, a mortal wound; a mortal sin. 3. Fatally vulnerable; vital. Last of all, against himself he turns his sword, but missing the mortal place, with his poniard finishes the work. --Milton. 4. Of or pertaining to the time of death. Safe in the hand of one disposing Power, Or in the natal or the mortal hour. --Pope. 5. Affecting as if with power to kill; deathly. The nymph grew pale, and in a mortal fright. --Dryden. 6. Human; belonging to man, who is mortal; as, mortal wit or knowledge; mortal power. The voice of God To mortal ear is dreadful. --Milton. 7. Very painful or tedious; wearisome; as, a sermon lasting two mortal hours. [Colloq.] --Sir W. Scott. Mortal foe, Mortal enemy, an inveterate, desperate, or implacable enemy; a foe bent on one's destruction.
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