—n. 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.
—v.t. 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.