What does the term "mortgage" derive from?

The term "mortgage" comes from the French words "mort," meaning dead, and "gage," meaning pledge. This terminology reflects the nature of the mortgage itself; it is essentially a pledge of property that becomes void (or "dead") when the debt is repaid. If the borrower fails to meet the terms of the loan, the pledge is considered dead, allowing the lender to reclaim the property. This etymology underscores the fundamental aspect of a mortgage, which is a secured loan that ties the property to the repayment obligation.

Understanding this origin provides insight into how mortgages function in the lending process and how they create a legal relationship between borrower and lender regarding real estate.