Webster's English Dictionary

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owe

owe \'o-\ vb [ME owen to possess, own, owe, fr. OE a-gan; akin to OHG 
   eigu]n (1st & 3d pl. pres. indic.) possess, Skt i-s'e he possesses archaic  
   1a: POSSESS, OWN  1b: to have or bear (an emotion or attitude) to someone 
   or something {R@s the boss a grudge} 2a1: to be under obligation to pay or 
   repay in return for something receiv ed : be indebted in the sum of {~s me 
   five dollars} 2a2: to be under obligation to render (as duty or service)  
   2b: to be indebted to {~s the grocer for supplies}  3: to be indebted for 
   {owed his wealth to his father}  : to be in debt {~s for his house}