What is the origin of the word mortgage?
mortgage (n.) late 14c., morgage, "a conveyance of property on condition as security for a loan or agreement," from Old French morgage (13c.), mort gaige, literally "dead pledge" (replaced in modern French by hypothèque ), from mort "dead" (see mortal (adj.)) + gage "pledge" (see wage (n.)).
Why is it called a dead mortgage?
mortgage (n.) late 14c., from Old French morgage, literally "dead pledge," from mort "dead" + gage "pledge." So called because the deal dies when the debt is paid or when payment fails.
What does the word'mort'mean?
"Word nerds will notice an eerie root word in 'mortgage' — 'mort,' or 'death,'" Weller writes. " The term comes from Old French, and Latin before that, to literally mean 'death pledge.'" That may seem a little severe. After all, the home you've bought is somewhere you're going to live. That's a positive thing, right? Only if you can afford it.
What is a mortgage and how does it work?
A mortgage is, of course, a legal agreement where a person borrows money to purchase a property and then pays it back over a set period of years. The term has been around a long time, going back to 1189 and the Tractatus of Glanvil, the earliest treatise on English law.
What is the root of mortgagee?
The word comes from Old French morgage, literally “dead pledge,” from mort (dead) and gage (pledge). According to the online etymology dictionary, it is so called because the deal dies when the debt is paid or when payment fails.
What is the Latin word for mortgage?
Etymology. From Middle English morgage and Middle French mortgage, from Anglo-Norman morgage, from Old French mort gage (“death pledge”), after a translation of judicial Medieval Latin mortuum wadium, from mortuum + wadium, from Frankish *wadi (“wager, pledge”).
When was the word mortgage invented?
You may be even more surprised to learn that mortgages date back even further than that. In fact, the earliest use of “mortgage” as a term to describe a long-lasting deal dates back to 14th century France, according to our friends at the Online Etymology Dictionary.
What are the origins of the mortgage?
Mortgage history has its roots in ancient civilization. Many scholars hypothesize that debtors swore a pledge to obtain property before the advent of the mortgage. During these times, the “mortgagor' would make an agreement with a “mortgagee' to exchange property for repayment over time.
What is the root word of addressee?
early 14c., "to guide, aim, or direct," from Old French adrecier "go straight toward; straighten, set right; point, direct" (13c.), from Vulgar Latin *addirectiare "make straight" (source also of Spanish.
What is a synonym for mortgage?
In this page you can discover 29 synonyms, antonyms, idiomatic expressions, and related words for mortgage, like: lease, amortize, deed, encumbrance, title, contract, lien, hock, transactions, loan and pawn.
What is the legal definition of a mortgage?
A mortgage involves the transfer of an interest in land as security for a loan or other obligation. It is the most common method of financing real estate transactions. The mortgagor is the party transferring the interest in land.
Is the T silent in mortgage?
Very few words in the English language contain the consonant cluster –rtg-, and in only one of those words (and its derivatives) is the t silent: mortgage.
What is the origin of the word house?
The English word house derives directly from the Old English hus meaning "dwelling, shelter, home, house," which in turn derives from Proto-Germanic husan (reconstructed by etymological analysis) which is of unknown origin.
Why is a mortgage called a mortgage?
The word mortgage is derived from a Law French term used in Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure.
What is the purpose of mortgage?
A mortgage is an agreement between you and a lender that gives the lender the right to take your property if you fail to repay the money you've borrowed plus interest. Mortgage loans are used to buy a home or to borrow money against the value of a home you already own.
What is the function of a mortgage?
Home Buying. The primary function of a mortgage is to supply a home buyer with enough money to purchase a home, either by buying an existing house or having a new one built. Mortgages pay the seller or builder directly and set out a timetable for repayment that the borrower can afford.
Does mortgage mean death grip?
Did you know that the word “mortgage” is Latin and means “death grip?” So if you have a mortgage for your home, you are literally in the grip of death while you work to pay that thing off.
Does mortgage mean death contract?
A mortgage loan is a loan secured by real property through the use of a mortgage note. The word mortgage is a French Law term meaning "death contract", meaning that the pledge ends (dies) when either the obligation is fulfilled or the property is taken through foreclosure.
Why is a mortgage called a mortgage?
The word mortgage is derived from a Law French term used in Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure.
What is a mort?
Definition of mort (Entry 1 of 2) 1 : a note sounded on a hunting horn when a deer is killed. 2 : killing sense 1. mort. noun (2)
Where does the word "mortgage" come from?
The word “mortgage” comes from the Old French term of “mort gage ,” which meant “dead pledge.” A mortgage is, of course, a legal agreement where a person borrows money to purchase a property and then pays it back over a set period of years.
When did mortgages become legal?
In the 15th century , the modern form of the mortgage came into use. Here the mortgage became a pledge and legal agreement where the property, and the benefits from the property, remained in the hands of the borrower or debtor.
When was the term "creditor" first used?
The term has been around a long time, going back to 1189 and the Tractatus of Glanvil, the earliest treatise on English law. But it didn’t have the same meaning as it does today. The creditor held the property, and the benefits from the property were taken without the debt being reduced.
What is root word?
Definitions of root word. noun. (linguistics) the form of a word after all affixes are removed. synonyms: base, radical, root, stem, theme. see more. see less. type of: descriptor, form, signifier, word form. the phonological or orthographic sound or appearance of a word that can be used to describe or identify something.
What is the root word of conformity?
The root word at the heart of "conformity," for example, is "form.". In linguistics, a root word holds the most basic meaning of any word. It's what's left after you remove all the affixes — the prefixes like "un-" or "anti-" and suffixes such as "-able" and "-tion.". With a word like "lovely," when you take away the suffix "-ly," you're left ...
