MORTGAGING
Etymology
Noun
mortgaging (plural mortgagings)
The act by which something is mortgaged.
Verb
mortgaging
present participle of mortgage
Source: Wiktionary
MORTGAGE
Mort"gage, n. Etym: [F. mort-gage; mort dead (L. mortuus) + gage
pledge. See Mortal, and Gage.]
1. (Law)
Definition: 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.
Note: It was called a mortgage (or dead pledge) because, whatever
profit it might yield, it did not thereby redeem itself, but became
lost or dead to the mortgager upon breach of the condition. But in
equity a right of redemption is an inseparable incident of a mortgage
until the mortgager is debarred by his own laches, or by judicial
decree. Cowell. Kent.
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.
Mort"gage, v. t. [imp. & p. p. Mortgaged; p. pr. & vb. n.
Mortgaging.]
1. (Law)
Definition: 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.
Source: Webster’s Unabridged Dictionary 1913 Edition