What is the difference between pledge and mortgage?
pledge | mortgage |
To make a solemn promise (to do something).
To deposit something as a security; to pawn.
To give assurance of friendship by the act of drinking; to drink to one's health.
* 1773 ,
* 1852 , Matthew Arnold, Tristram and Iseult
A solemn promise to do something.
Something given by a person who is borrowing money etc to the person he has borrowed it from, to be kept until the money etc is returned.
A person who has taken a pledge of allegiance to a college fraternity, but not yet formally approved.
A security to guarantee payment of a debt.
A drinking toast.
A promise to abstain from drinking alcohol.
(legal) A special form of secured loan where the purpose of the loan must be specified to the lender, to purchase assets that must be fixed (not movable) property such as a house or piece of farm land. The assets are registered as the legal property of the borrower but the lender can seize them and dispose of them if they are not satisfied with the manner in which the repayment of the loan is conducted by the borrower. Once the loan is fully repaid, the lender loses this right of seizure and the assets are then deemed to be unencumbered.
(obsolete) State of being pledged.
(legal) To borrow against a property, to obtain a loan for another purpose by giving away the right of seizure to the lender over a fixed property such as a house or piece of land; to pledge a property in order to get a loan.
(figurative) To pledge and make liable; to make subject to obligation; to achieve an immediate result by paying for it in the long term.
*
*
As verbs the difference between pledge and mortgage
is that pledge is to make a solemn promise (to do something) while mortgage is to borrow against a property, to obtain a loan for another purpose by giving away the right of seizure to the lender over a fixed property such as a house or piece of land; to pledge a property in order to get a loan.As nouns the difference between pledge and mortgage
is that pledge is a solemn promise to do something while mortgage is a special form of secured loan where the purpose of the loan must be specified to the lender, to purchase assets that must be fixed (not movable) property such as a house or piece of farm land. The assets are registered as the legal property of the borrower but the lender can seize them and dispose of them if they are not satisfied with the manner in which the repayment of the loan is conducted by the borrower. Once the loan is fully repaid, the lender loses this right of seizure and the assets are then deemed to be unencumbered.pledge
English
(wikipedia pledge)Verb
(pledg)- HARDCASTLE [Taking the cup.] I hope you'll find it to your mind. I have prepared it with my own hands, and I believe you'll own the ingredients are tolerable. Will you be so good as to pledge me, sir? Here, Mr. Marlow, here is to our better acquaintance. [Drinks.]
- Reach me my golden cup that stands by thee,
- And pledge me in it first for courtesy.