View synonyms for mortgagor

mortgagor

or mort·gag·er

[ mawr-guh-jer ]

Phonetic (Standard)IPA

noun

mortgagor

/ ˈmɔːɡɪdʒə; ˌmɔːɡɪˈdʒɔː /

property law a person who borrows money by mortgaging his property to the lender as security

First recorded in 1575–85; mortgage + -or ²

How does mortgagor compare to similar and commonly confused words? Explore the most common comparisons:

Until the mortgagor fails to execute his part of the agreement, he retains possession of the property.

On the other hand a somewhat different rule applies between mortgagor and mortgagee.

If there is a surplus after satisfying the mortgage debt it must be paid to the mortgagor, or, if he is dead, to his heir.

If they are destroyed by fire, the mortgagor cannot claim to have the insurance applied in liquidation of the mortgage debt.

If the sums collected from the two sources exceed the amount advanced to the mortgagor that is only the mortgagee's affair.

April 19, 2024tortuous

[tawr-choo-uhs ]

Start each day with the Word of the Day in your inbox!

By clicking "Sign Up", you are accepting Dictionary.com Terms & Conditions and Privacy Policies.

Browse