Definition for MORT-GAGE

MORT-GAGE, v.t. [mor'gage.]

  1. To grant an estate in fee as security for money lent or contracted to be paid at a certain time on condition that if the debt shall be discharged according to the contract, the grant shall be void, otherwise to remain in full force. It is customary to give a mortgage for securing the repayment of money lent, or the payment of the purchase money of an estate, or for any other debt.
  2. To pledge; to make liable to the payment of any debt or expenditure. Already a portion of the entire capital of the nation is mortgaged for the support of drunkards. L. Beecher.

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