I. ˈmȯr-gij noun
Etymology: Middle English morgage, from Anglo-French mortgage, from mort dead (from Latin mortuus ) + gage gage — more at murder
Date: 15th century
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.
a. : the instrument evidencing the mortgage
b. : the state of the property so mortgaged
c. : the interest of the mortgagee in such property
II. transitive verb
( mort·gaged ; mort·gag·ing )
Date: 15th century
1. : to grant or convey by a mortgage
2. : to subject to a claim or obligation : pledge