mortgage
/ˈmɔːɡɪdʒ/
noun
Origin
Old French
mort gage — dead pledge
Overview
Meaning Now
- A legal agreement by which a bank or other creditor lends money at interest in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt.
- The deed or contract specifying the terms of such a loan.
Literal older meaning
dead pledge
Language path
Old French → Middle English → English
Earliest form
mortgage
Earliest period
14th century
Journey
The term reflects a feudal legal concept: the 'pledge' is considered 'dead' (mort) because the benefits of the property are either applied to the debt (reducing it) or the property is forfeited to the creditor if the debt is not paid, rendering the pledge 'dead' to the original owner.
Evolution
- Old French
mort gage
“dead pledge”
A compound of 'mort' (dead) and 'gage' (pledge).
- Middle English
mortgage
“A conditional transfer of property as security for a loan.”
Adopted into Middle English from Anglo-Norman French.
- Early Modern English
mortgage
“Security for a loan or the debt instrument itself.”
Pronunciation shift resulted in the silent 't'.
Connections
Word parts
mort
root
dead
gage
root
pledge
Related across languages
French
Used in historical or specific legal contexts, though 'hypothèque' is the standard modern French term.
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Related to mortgage
External references use DefinedTerm semantics.