Mortgagor
When you get a mortgage from a lender, you are a mortgagor. The lender is a mortgagee. See Secured Transactions.
Definition from Nolo’s Plain-English Law Dictionary
The person who has borrowed money and pledged his or her real property as security for the mortgagee (the person or business making the loan). (See also: mortgage)
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:20 pm
