What does BOND AND MORTGAGE mean? May 21, 2017 All Dictionary BOND AND MORTGAGE meaning in Law Dictionary types of security, comprising a bond conditioned the repayment of a loan of money, and a mortgage of realty to secure the performance of the terms of this bond. Meigs v. Bunting, 141 Pa. 233. 21 Atl. 588, 23 Am. St. Rep. 273.