Mortgagee Meaning in English
word
التعريف
A mortgagee is the person or organization (usually a bank) that lends money to someone to buy property and holds the legal right to take back the property if the loan is not repaid.
الاستخدام والفروق الدقيقة
"Mortgagee" is a formal, legal word used in real estate and finance. It is the opposite of "mortgagor" (the borrower). Most often, the mortgagee is a bank or financial institution. Not commonly used in everyday speech unless discussing legal or loan documents.
جمل نموذجية
The mortgagee is usually a bank or lender.
basic
If you do not pay your loan, the mortgagee can take your house.
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A contract lists the mortgagee and the amount borrowed.
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Sometimes the mortgagee will work with you to avoid foreclosure.
natural
Your payments go directly to the mortgagee each month.
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The mortgagee's name is on the title until the loan is paid off.
natural