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



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Word of the Day

16 November 2024

LEAVE

(verb) go and leave behind, either intentionally or by neglect or forgetfulness; “She left a mess when she moved out”; “His good luck finally left him”; “her husband left her after 20 years of marriage”; “she wept thinking she had been left behind”


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Coffee Trivia

Coffee starts as a yellow berry, changes into a red berry, and then is picked by hand to harvest. The red berry is de-shelled through a water soaking process and what’s left inside is the green coffee bean. This bean then dries in the sun for 3-5 days, where it is then packed and ready for sale.

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