mortgage

n. conditional conveyance of property as for security on a loan; pledging, lien

v. sign over property to a creditor as security for money that is owed; obligate

A mortgage is a method of using property (real or personal) as security for the payment of a debt.The term mortgage (from Law French, lit. dead pledge) refers to the legal device used for this purpose, but it is also commonly used to refer to the debt secured by the mortgage, the mortgage loan. In most jurisdictions mortgages are strongly associated with loans secured on real estate rather than other property (such as ships) and in some cases only land may be mortgaged. Arranging a mortgage is seen as the standard method by which individuals and businesses can purchase residential and commercial real estate without the need to pay the full value immediately. See mortgage loan for residential mortgage lending, and commercial mortgage for lending against commercial property.
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Noun
1. a conditional conveyance of property as security for the repayment of a loan
(hypernym) security interest
(hyponym) first mortgage
Verb
1. put up as security or collateral
(hypernym) owe
(hyponym) bond
(derivation) mortgagee, mortgage holder

(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.
  

(v. t.)
Hence: To pledge, either literally or figuratively; to make subject to a claim or obligation.
  

(n.)
State of being pledged; as, lands given in 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.
  

A loan secured by the collateral of some specified real estate property which obliges the borrower to make a predetermined series of payments.