Meaning of the word mortgagee in English
What does mortgagee mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.
mortgagee
US /ˌmɔːr.ɡɪˈdʒiː/
UK /ˌmɔː.ɡɪˈdʒiː/
Noun
the lender in a mortgage, typically a bank or other financial institution
Example:
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The bank acts as the mortgagee, holding the property as security for the loan.
•
The mortgagee has the right to foreclose on the property if the borrower defaults.