/mawr"gij/ , n. , v. , mortgaged, mortgaging .
n.
1. a conveyance of an interest in property as security for the repayment of money borrowed.
2. the deed by which such a transaction is effected.
3. the rights conferred by it, or the state of the property conveyed.
v.t.
4. Law. to convey or place (real property) under a mortgage.
5. to place under advance obligation; pledge: to mortgage one's life to the defense of democracy.
[ 1350-1400; earlier morgage, ME mortgage, equiv. to mort dead ( mortuus ) + gage pledge, GAGE 1 ]