be indebted to, in an abstract or intellectual sense
"This new theory owes much to Einstein's Relativity Theory"
To be under an obligation to give something back to someone or to perform some action for someone.
"I owe my friend a favor because he helped me move all afternoon."
In plain English: To owe something means you have to give it back because someone else lent it to you first.
"I owe my friend five dollars for lunch."
Usage: Use owe when you have not yet returned money, favors, or gratitude that was previously given to another person. This verb specifically describes a debt of repayment rather than the act of lending itself.
The word "owe" comes from Old English āgan, which originally meant to own or possess something rather than to be in debt. This sense of ownership traveled into Middle English as owen before shifting its meaning to the current concept of owing a debt.