Mortgage

Part of speech: noun (n.)

1. 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. State of being pledged; as, lands given in mortgage. Chattel mortgage. See under Chattel. -- To foreclose a mortgage. See under Foreclose. -- Mortgage deed (Law), a deed given by way of mortgage.

Part of speech: verb (v.)

1. 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.

2. Hence: To pledge, either literally or figuratively; to make subject to a claim or obligation. Mortgaging their lives to covetise. Spenser. I myself an mortgaged to thy will. Shak.