Pronunciation: (môr'gij), [key]
—n., v., -gaged, -gag•ing.
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.
1. Law.to convey or place (real property) under a mortgage.
2. to place under advance obligation; pledge: to mortgage one's life to the defense of democracy.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.