a person to whom property is mortgaged.
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Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023
How to use mortgagee in a sentence
It is the deed always given by a mortgagee on the payment or discharge of his mortgage.
On the other hand a somewhat different rule applies between mortgagor and mortgagee.
This is a great responsibility to repose in the mortgagee, and he must perform the trust in good faith in every respect.
This rule, though, is denied by some courts, which hold he cannot because the officer is acting as the mortgagee's agent.
On the other hand, the mortgagee can transfer, sell or assign his mortgage to another, and this is often done.
British Dictionary definitions for mortgagee
the party to a mortgage who makes the loan
a person who holds mortgaged property as security for repayment of a loan
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012